According to Bank of America strategists, the bank's clients were net buyers of US$1.9 billion in US stocks last week, the first significant net buying in six weeks, led by retail investors and hedge funds.

Strategist Jill Carey Hall noted that both individual stocks and ETFs saw inflows, with retail and hedge fund clients driving the net buying, which was the second consecutive week of net inflows for retail and the first in four weeks for hedge funds, while institutional clients remained net sellers for the second straight week.