US equity funds registered their fourth successive weekly outflows in the week ended April 24, hit by fading expectations for rate cuts this year.

LSEG data showed a withdrawal of US$1.2 billion from US equity funds, though the figure was less than the previous week's, as optimism over solid corporate earnings, especially from major tech firms, provided some support.

US stock index futures rose on Friday, driven by strong earnings from Alphabet and Microsoft, while investors awaited a key inflation print that could help shape US monetary policy.

Starting the year with expectations for six rate cuts, traders have now pared down their forecasts to one or two, with some even anticipating a possible rate hike.

Sector funds saw varying flows: tech funds experienced outflows of US$465 million, consumer staples saw US$343 million leave while utilities funds saw US$144 million leave. Conversely, energy funds reported inflows of US$422 million while industrial funds reported inflows of US$479 million.

Meanwhile, US bond funds reversed a previous outflow, attracting US$845 million.

Money market funds also saw a turnaround, securing inflows of US$5.6 billion after outflows in the preceding two weeks.

  - Reuters