Both of these articles come from CNNMoney.com (on the same page). Which is right? Both are correct: we are getting out of the rigged stock market and Europeans are flocking to find a safe haven anywhere. Then ask yourself who else is buying stocks since today’s bull run is fueled by vapors based on the continuing low volume.
David DeGerolamo
Investors yank $3.7 billion out of stocks
The retreat from U.S. stocks continued last week, with investors pulling $3.7 billion of domestic stock mutual funds.
The move out of the U.S. stock market continued through the final week of summer, as investors remained stuck in a rut and refrained from making any big moves ahead of Federal Reserve chairman Ben Bernanke’s big speech in Jackson Hole.
In fact, investors pulled another $3.7 billion from U.S. stock market mutual funds during the week ended Aug. 31, according to the Investment Company Institute, bringing the 2012 outflow total to more than $76 billion. By comparison, those funds lost in the neighborhood of $70 billion during the first eight months of 2011, and just $52 billion during the first eight months of 2010.
And then:
STOCK RUNUP GAINS STEAM
NEW YORK (CNNMoney) — A rally on Wall Street gained momentum Thursday as investors welcomed better-than-expected reports on the U.S. labor market and the European Central Bank’s bond-buying plan.
The Dow Jones industrial average surged more than 200 points, or 1.8%. The S&P 500 and Nasdaq shot up more than 1.7%.
