“Record levels of stock buying by retail investors have helped to keep US equities marching higher through the summer months, and been the “dominant force” powering a relentless rally in the market, according to analysts at JPMorgan. US retail investors’ net purchases of stocks and exchange traded funds surged to record levels during the summer, after posting substantial inflows throughout the year, according to a measure calculated by the bank to focus on retail activity.
The S&P 500 index of blue-chip US stocks is up 20 per cent so far this year. Global equity fund inflows, which analysts view as another indicator of retail buying, have pushed past $689bn so far this year, smashing the previous annual record set in 2017”
Excerpted & edited for brevity from Financial Times
September 6, 2021https://www.ft.com/content/d87c6631-55f0-4897-9634-bf0ad969e27d