Dec 22 Reuters U.S. equity funds saw significant outflows in the week ended Dec. 20, as investors took profits ahead of a key U.S. inflation report and as enthusiasm over potential rate cuts diminished.

Investors withdrew a net 10.45 billion from U.S. equity funds during the week, the largest weekly net selling since Sept. 27, as they reassessed their portfolios after a solid rally on Wall Street.

The SP 500 dropped 1.47 on Wednesday, facing resistance near its Jan. 4, 2022, record high of 4,818.62. Despite the recent decline, the index has still gained approximately 15.7 since bottoming out at a fivemonth low of 4,103.78 on Oct. 27.

U.S. personal consumption data for November is due at 1330 GMT. It could potentially shape expectations for how quickly interest rates might fall in 2024.

U.S. equity value funds saw their first weekly outflow in four weeks, worth about 5.88 billion. Investors also sold roughly 11.31 billion worth of growth funds on a net basis.

Among sector funds, the tech sector saw 1.08 billion worth of net selling, the second weekly outflow in seven weeks. Financials and gold precious metal funds also lost about 200 million each in outflows.

Industrials, meanwhile, received 336 million worth of inflows, the most in nine weeks.

U.S. investors also liquidated 7.55 billion worth bond funds, extending outflows into a fourth successive week.

U.S. shortintermediate government treasury funds logged about 5.1 billion worth of net selling, their seventh…