View photosGuests use their phones during the Pinterest Inc. IPO on the floor of the New York Stock Exchange (NYSE) in New York, U.S., April 18, 2019. REUTERS/Brendan McDermidMore
Buy, buy, buy.
The ‘buy the dip’ theme appears to be in full swing. When the broad S&P 500 (^GSPC) fell 1.2% last week, marking the worst week for the stock market since May, Bank of America Merrill Lynch clients were buying stocks, according to a new report Tuesday.
“All three client groups – hedge funds, institutional and private clients – were net buyers last week,” the analysts, led by Savita Subramanian, Bank of America Merrill Lynch’s head of U.S. equity & quantitative strategy, wrote in a note to clients. “For private clients, last week marked the