"Investors Flock to Cash in Record Numbers, Reports BofA"

In the first week of 2024, investors have moved a record $123 billion into cash funds, the largest sum for an opening week ever, as global stocks began to lose momentum from the previous quarter's rally. This shift to cash follows a year where money-market funds saw a record $1.2 trillion inflow, overshadowing equity investments. Despite this, some strategists predict a continuation of stock gains through 2024, while others caution about near-term risks, particularly in European stocks. Bank of America's Michael Hartnett suggests buying emerging market stocks and selling US shares, highlighting several key events in 2024 that could influence markets, including the US presidential elections and the BRICS Summit.