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Fed Fear Is Absent in U.S. Stocks as Markets Plow Back to Record

  • S&P 500 on pace for best quarter since 2003 as ETFs swell
  • Central bank poised to raise rates with 10-year yield at 3.1%
The New York Stock Exchange (NYSE) stands in New York, U.S., on Friday, June 8, 2018.
Photographer: Michael Nagle/Bloomberg

The bulls have regained control on the American equity market.

The S&P 500 Index capped a second weekly advance, ending the five days less than two points away from its all-time high. Investors plowed $38 billion into U.S. stock exchange-traded funds through Thursday, on pace for the best weekly inflow on record. Some $10.9 billion alone was poured into the biggest ETF that tracks the equity benchmark. Investors put $14.5 billion into U.S. equity funds in the week ending Sept. 19, according to EPFR Global data, the most since March.