New: A daily newsletter defining what matters in business and markets

Stories

Wall Street has gone gaga for robot stocks

Alastair Grant / AP

Cumulative flows to funds that invest in robotics companies have exploded from less than $200 million in September of last year to $1.12 billion today, as Bank of America strategist Michael Hartnett points out in a research note. This sudden interest has helped propel robotics stocks in 2017, with the Robo Global Robotics and Automation ETF better than doubling the performance of this S&P 500 year-to-date.

Why it matters: The rapid rise of investor interest in these companies means that there will be plenty of capital available to businesses looking to profit from automating the U.S. economy.

More stories loading.