BUSINESS-ECONOMY
So far in 2024, investors have poured a record $1 trillion into the US exchange-traded funds, marking yet another milestone for the sector. That is largely thanks to the euphoria sweeping Wall Street, particularly driven by AI. Net inflows for the year have already topped the record set in 2021 of $903 billion. There are still 16 trading days remaining in the year for that figure to jump more. An easy-to-trade exchange-traded fund (ETF) wrapper has piqued investors' interest in assets ranging from conservative fixed income to risky leveraged bets, including Bitcoin, which has contributed to the boom. As a result of investors' optimism about the new government and Trump's stance on taxes, the market saw unprecedented levels of volatility in November, sending stock prices soaring to new all-time highs. ETFs of all kinds witnessed record inflows of $155 billion, with an average of almost $7.3 billion per day. The S&P 500 had its best month of the year in November. Last week, the index marked its 46th record for the year. According to Eric Balchunas, a senior ETF analyst at Bloomberg Intelligence, given November's lower-than-average 21 trading days, that historic monthly haul is "shocking." He attributes the exuberance to a "Trump bump." Bloomberg's Balchunas said, "It is going to be difficult to top this year. He added, "ETFs are going to take in flows, but the strength of the market tailwinds will vary. Right now, they are strong." None
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