US equity purchases are accelerating: Professional and retail investors bought +4.7 billion in US stocks last week, the largest net inflow since August. This was driven by ETF inflows of +3.8 billion, the highest since November 2023, and single stocks of +900 million. Institutional investors bought +2.7 billion after selling in 4 of the previous 5 weeks. Hedge funds turned buyers for the first time in 7 weeks, adding +1.6 billion. Meanwhile, retail investors’ net inflows reached +400 million, their 3rd consecutive weekly purchase. Investors are piling into stocks.(The Kobeissi Letter)