- Retail more bullish than institutional money: JPMorgan Chase
- ​Rise in passive investing may explain end-of-day trading surge
You can thank the little guy for Dow 20,000.
That’s the takeaway from data tracking money flows into and out of stocks, according to an analysis by JPMorgan Chase & Co.
The telltale sign retail investors are behind the longest string of U.S. stock highs in decades? An $83 billion surge of cash into passive strategies so far this year amid a $15 billion withdrawal from actively managed funds. That’s on top of evidence that institutional traders have backed away, the bank says
Sid Verma & Oliver Renick | Bloomberg