Both the S&P 500 ETF (SPY) and the Nasdaq 100 ETF (QQQ) are hovering near their respective intraday all-time highs, although that hasn’t stopped buyers from continuing to bid up prices.
Don’t Miss TipRanks’ Half-Year Sale
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Investors bought $31.6 billion of U.S. equity funds during the week ended July 2, according to LSEG Lipper data. That’s the largest amount of net weekly inflows since November 2024.
Magnificent 7 Stocks Lead the Way
Large-cap U.S. equity funds were responsible for the bulk of the purchases, bringing in $31.04 billion. However, mid-cap funds experienced $1.72 billion of net outflows, while small-cap funds recorded $1.09 billion of net outflows.
The Magnificent 7 stocks hold a lot of weight in both SPY and QQQ. While roughly flat on a year-to-date basis, the CNBC Magnificent 7 index is up by 32% during the past three months, led by strong performers like Nvidia (NVDA) and Meta Platforms (META).
Use TipRanks’ Comparison Tool to track the Magnificent 7 stocks and their analyst price targets.
