Global Hedge Funds Boost Stock Buying in Optimistic Surge

Global Hedge Funds Focus on Buying Stocks in Cyclical Sectors for Second Consecutive Week, according to Goldman Sachs

Global hedge funds have continued their trend of buying more stocks than they sell for the second consecutive week, focusing largely on cyclical sectors such as energy, industrials, and materials, according to a report from Goldman Sachs. The renowned bank, which utilizes data from its prime brokerage clients to provide a market snapshot, reveals that hedge funds have been net buyers in 10 out of the 11 U.S. sectors, expressing confidence that shares in cyclicals will experience an upswing in the midst of an “almost no panic” market. Last week saw a surge of net buying in cyclicals, reaching its highest financial volume since September 2021, Goldman Sachs added.