Wall Street Capitulation Calls Get Ever Harder as Stocks Bounce
- Retail investors joined money managers in bailing on equities
- JPMorgan says market may not see clear sign of capitulation
Traders work on the floor of the New York Stock Exchange.
Photographer: Michael Nagle/BloombergThis article is for subscribers only.
After a furious spate of retail selling unseen since December 2018 and beaten-down risk appetite, all the ingredients were in place heading into the big stock rebound Monday.
With almost everyone cashing out lately, it didn’t take much to drive the 2.6% gain in the S&P 500 in an everything-rally attributed to hopes of a less-hawkish Federal Reserve and the fading UK market crisis.