To The Moon

Market Overview

U.S. stocks surged to close out the trading week last Friday after a report said the U.S. Federal Reserve will likely debate on a smaller interest rate hike in December, raising hopes the central bank may be poised to adopt a less aggressive policy stance.

Some Fed officials have begun sounding out their desire to slow down the pace of increases soon, and how to signal plans to approve a smaller increase in December.

For the last week (Oct. 17 - Oct. 21), the S&P 500 climbed 4.74%, the Dow gained 4.89% and the Nasdaq rose 5.22%. Each of the three major indexes notched their biggest weekly percentage gains in four months.

Top 10 ETF Creations (Oct. 17 - Oct. 21)

Source: Bloomberg

S&P related ETFs saw huge weekly inflow last week. Total inflow amount of $SPDR S&P 500 ETF Trust(SPY)$ reached 2,156 million, ranks first among all ETFs. The S&P 500 index climbed 4.74% to 3,752.75 last week. Other S&P related ETFs, such as $Vanguard S&P 500 ETF(VOO)$ and $iShares Core S&P Mid-Cap ETF(IJH)$, saw an inflow of 693 and 595 million, respectively.

Big tech giants Microsoft (MSFT), Alphabet (GOOGL), Meta Platforms (FB), Apple (AAPL), and Amazon (AMZN), which alone represent roughly a quarter of the S&P 500 index, are scheduled to release earnings this week. Thus, ETFs related to the technology sector drew huge fund inflow last week. $iShares US Technology ETF(IYW)$、$iShares Core S&P 500 ETF(IVV)$ saw an inflow of 1,322 and 1,190 million, respectively.

Top 10 Redemptions

Source: Bloomberg

A total amount of $1218 million of $Shares Russell 2000 ETF(IWM)$ outflowed last week.

$Invesco QQQ Trust(QQQ)$ saw an outflow of 785 million.

Regarding sector ETFs, $Utilities Select Sector SPDR Fund(XLU)$, $Vanguard Information Technology ETF$ saw a great amount of outflow last week.