(Reuters) Investors in funds based in the United States poured $12 billion into stock funds in the week ended Wednesday in response to positive U.S. economic figures, data from Thomson Reuters Lipper service showed on Friday.
The inflows into stock funds in the week ended November 27 were the biggest in five weeks. U.S. stock markets hit record highs on November 22 after strong U.S. jobs data and assurances that the Federal Reserve would remain accommodative.
"It's more of a momentum-driven market," said Barry Fennell, senior research analyst at Lipper. Investors have more confidence in the "staying power" of the U.S. economic recovery, he said.
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