US equity funds see outflows

US equity funds witnessed outflows for a second straight week in the seven days to December 6 on some investor caution ahead of economic data which could provide more insights about the Federal Reserve's interest rate trajectory, reports Reuters.
Investors exited a net $577 million worth of US equity funds during the period, although this was substantially less than the $3.26 billion worth of net selling in the previous seven days.
The non-farm payrolls report for November is set to test whether recent market optimism on lower rates is premature.
Some analysts forecast a so-called Santa Claus rally, anticipating an equity rebound from a projected mid-December low.
Large-cap equity funds reported their first weekly outflow in seven weeks, totalling $450 million. Mid-cap funds had outflows of $1.03 billion, while small and multi-cap funds saw net buying of $1.2 billion and $651 million respectively.