Catenaa, Friday, June 19, 2026- US stocks attracted record inflows last week as investors piled into the technology sector, Bank of America said.
An unprecedented $119.2 billion poured into US equity funds in the week through June 17, the team led by Michael Hartnett said in a note, citing EPFR Global data.
On an annualized basis, US equity funds are on track to receive a record $739 billion in 2026, they said.
The end of the Iran war, combined with massive spending on AI infrastructure by so-called hyperscalers such as Amazon, Meta Platforms, and Alphabet, has pushed US stocks to fresh peaks.
The Nasdaq 100 index has surged 24% this year, while the S&P 500 Index is up 9.6%.
Hartnett and his team noted that an end to the conflict has halted a plunge in President Donald Trump’s approval ratings, while the mood on Wall Street is buoyant, with US household equity wealth up $6 trillion this year.
Still, the strategists warn that if the Republican Party loses control of the Senate in November, this will trigger a “big dollar down, yields down, stocks down” event. “Bulls will get ‘yippy’ if no big bounce in Trump approval by September,” they wrote.
The record inflows to US stocks coincide with huge share issuances from the tech sector. SpaceX completed the largest initial public offering in history on June 14, after selling $75 billion in equity.
Anthropic PBC and OpenAI Group PBC are set to follow with IPOs of their own. Meanwhile, Alphabet, Meta, and Oracle are selling hundreds of billions of dollars worth of shares to help finance their artificial intelligence outlays.
While large caps are attracting the bulk of investor flows, the entire US market has been a beneficiary of an insatiable appetite for the country’s stocks.
American mid-cap funds drew a record $19.9 billion weekly inflow, the BofA strategists said, while US small-cap funds had their second-largest weekly inflow on record at $12.3 billion.
Technology shares have been a particular focus, with weekly inflows at an all-time high of $19.2 billion.
By contrast, investors are pulling money from other regions. European funds are on a run of 10 consecutive weeks of outflows, a major turnaround since the start of the war in Iran.
Chinese equity funds, meanwhile, have suffered 12 straight weeks of outflows.
