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Data: FactSet; Chart: Dion Rabouin/Axios Visuals

U.S. households increased their exposure to stocks to 41% of their total financial assets in April, the highest level on record, WSJ reported Sunday, citing JPMorgan and Federal Reserve data that dates back to 1952.

Why it matters: It's the latest evidence that investors are getting far more bullish on equities, increasing exposure to risk and reducing hedges.

  • The data includes 401(k) retirement accounts, which means everyday Americans' savings are following retail and institutional traders' bets that the stock market will continue to fly high.

By the numbers: Stock funds have seen net inflows for seven straight weeks, including a net $53.7 billion for the week ending March 17, an all-time high, according to data from the Investment Company Institute.

The big picture: Everyone and their mother is buying stocks, with flows underpinned by record borrowing from hedge funds and big banks, as well as a record level of margin debt being held by retail and institutional investors.

  • Equity funds haven't seen net outflows since the week of March 3, with the S&P 500 rising by 10% since then.
  • By mid-April, more money had flowed into stock funds this year than had been seen for the 12-year period of 2008-2020.

Go deeper

1 hour ago - Health

Biden reaches agreements with Uber and Lyft to give free rides to vaccine sites

A coronavirus vaccination site in Miami on May 10. Photo: Joe Raedle/Getty Images

The Biden administration has reached agreements with ride-sharing companies Uber and Lyft to offer free rides to coronavirus vaccination sites through July 4, the White House announced Tuesday.

Why it matters: The free rides, starting in the next two weeks, are part of the Biden administration's push to administer at least one vaccine dose to 70% of U.S. adults by Independence Day.

Ben Geman, author of Generate
1 hour ago - Energy & Environment

Biden officials green-light nation's first big offshore wind project

Illustration: Aïda Amer/Axios. Photo by Brendan Smialowski/AFP via Getty Images

The Biden administration today gave final approval to Vineyard Wind, a project off the Massachusetts coast slated to be the country's first large-scale offshore wind farm.

Why it matters: While the green-light for the long-proposed projected was expected, it marks a key step in White House plans to help spur development of a suite of coastal projects off New York, New Jersey and other states.

Global temperatures are cooler in 2021 than other recent years

Data: NASA; Chart: Andrew Witherspoon/Axios

With a moderate La Niña event in the tropical Pacific Ocean, global temperatures in 2021 are running decidedly cooler when compared to recent years.

Why it matters: The lack of a new warmest year record in 2021 could sap some of the sense of urgency among policymakers in the U.S. and abroad during a critical year for enacting stricter emissions cuts to meet the Paris Agreement's targets.