According to JPMorgan Chase, last week there was approximately $21 billion in net selling of U.S. stock index futures, with most of the selling concentrated in the S&P 500 and Nasdaq 100 futures contracts on Friday. However, equity ETFs saw inflows of $26.8 billion, which not only fully offset the outflows in the futures market but also resulted in an overall net inflow. Fixed income ETFs also attracted strong inflows, while commodity funds and some emerging market funds experienced redemptions, indicating that investors are rotating across sectors while maintaining a net long position in U.S. stocks.