Individual investors are a ‘big part’ of the market over last few months, NYSE president says
NYSE President Stacey Cunningham said Friday that individual investors have participated in a big way during the market's record rally that's seen the S&P 500 jump 48% from its March 23 low.
"The retail investor has been a big part of the market over the past several months for a variety of reasons," Cunningham said on CNBC's "Squawk Box." She pointed to several reasons for the spike, including zero-commission trading platforms, as well as consumers having more time on their hands amid stay-at-home orders during the coronavirus pandemic.
"They're engaging in this tremendous rebound from the market," she said.
Her comments come after e-brokers TD Ameritrade and Interactive Brokers reported record retail trading volumes in the second quarter. Some, including Social Capital's Chamath Palih...