Retail investors fuel record-breaking year on Wall Street with increased participation and preference for high-growth stocks.

Retail investors are driving a record-breaking year on Wall Street, with inflows into US equities on track to reach a new high in 2025. Individual participation has surged amid optimism around interest rate cuts and expectations of a rally extending into next year. Retail investors have poured 53% more money into US equities this year, surpassing the 2021 retail trading boom, and are now accounting for 20-25% of total market volumes. ETFs are increasingly popular among retail investors, who are also showing a preference for high-growth and narrative-driven stocks.