European stock funds led global demand through July 22, while U.S. equity funds saw $7.34 billion in outflows ahead of major tech earnings and bond inflows weakened amid higher oil prices.
Global equity funds attracted a net $10.51 billion in the week through July 22, marking a ninth consecutive weekly inflow, as optimism over European earnings helped offset rising Middle East tensions, semiconductor weakness and caution ahead of major U.S. technology earnings. European equity funds led with $10.29 billion of inflows and Asian funds added $4.5 billion, while U.S. equity funds posted $7.34 billion of outflows, their second straight weekly withdrawal. In the U.S., investors were unsettled by disappointing results from Alphabet and Tesla and watched upcoming reports from Microsoft, Amazon and Meta Platforms. Growth U.S. equity funds lost $8.55 billion and value funds shed $1.39 billion, while sector-specific funds still drew money. Globally, technology funds attracted $2.12 billion, financials $1.7 billion and healthcare $1.36 billion. Global bond fund inflows slowed to a 16-week low of $3.34 billion as firmer crude prices revived inflation concerns, with short-term bond funds losing $5.75 billion after a 13-week inflow streak. Money market funds saw $40.97 billion of outflows globally, and emerging-market equity funds gained $3.96 billion.