Markets
markets
Luke Kawa

Retail traders just poured the most money into the stock market since the post-tariff bottom

“This past week was exceptional for retail, sustaining the momentum from earlier this year,” writes JPMorgan strategist Arun Jain of the period ended January 14. “Retail investors bought $12.0B in cash equities — the largest weekly inflow since the post Liberation Day V-shape recovery. ETF activity was steady and strong at $7.1B, but notably, retail purchases of single stocks surged to their highest level in nearly 9 months” at $4.9 billion.

Among those single stocks, the Magnificent 7 (ex Apple) got a lot of love, accounting for a little more than one-third of inflows, led by Nvidia and Tesla. The iPhone maker, on the other hand, saw an exodus of about $185 million. Year to date, however, the Mag 7 is negative, lagging the S&P 500 and Nasdaq 100.

Tech stocks excluding Magnificent 7 stocks also enjoyed elevated buying activity.

Per Jain, trends from the past five years suggest retail traders’ appetite for stocks should stay robust for about another month.

JPM retail trends

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SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

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