So is the market being propped up by the Federal Reserve -- which is now buying ETFs -- and big mutual funds, hedge funds and other institutional investors hunting for bargains? firms likeandUS Global Investors GROW JETS JETS Airlines in particular seem to be popular stock picks for millennials, according to Frank Holmes, the CEO of, a firm that runs theairline ETF. After he and his staff looked more closely at trends on Robinhood, Holmes found that many younger investors were buying the ETF after a huge dip. "More millennials are working from home more and actively trading," Holmes said, adding that airline stocks might be a popular "buy what you know" trade for younger people who like to travel and spend on experiences. Charles Schwab SCHW TD Ameritrade AMTD Robinhood rival, which is in the process of getting even bigger thanks to its pending deal with, also said younger investors are helping boost the market.

Source: CNN June 12, 2020 17:48 UTC