Fund Managers Bullish On America In June: 6 ETFs To Profit
Zacks Investment Research | Jun 14, 2018 10:14PM ET
Per a Bank of America Merrill Lynch (NYSE:BAC) survey, global fund managers are the most bullish on American stocks in June for the first time in 15 months driven by a solid profit outlook. About 64% of the managers said that the United States has the best profit outlook in 17 years.
The rounds of upbeat economic data, which indicate robust growth after the first-quarter slowdown, have compelled global managers to pour money into domestic equities. American manufacturing is enjoying a 21-month winning streak, average hourly wages have been rising with 2.7% year-over-year growth, and unemployment has dropped to 3.8%, which is the lowest level since 2000. Consumer spending, which accounts for more than two-thirds of U.S. economic activity, rose the most in five months by 0.6% in April, while consumer confidence rebounded near the 18-year high in May (read: Zacks Investment Research
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