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Goldman Sachs: U.S. retail stock-trading activity has declined from the end of last year 45%，2027 annual stock supply may set a 26 new annual high
BlockBeats reports that October 27, Goldman Sachs data shows that U.S. retail stock-trading activity has declined by approximately 2025 from the end of 45%, with retail trading accounting for 15%of total U.S. stock trading volume at the end of last year, falling to approximately 9%, close to the lowest level since 2020 years. Goldman Sachs believes that rising energy prices, weak consumer confidence, and higher U.S. Treasury yields are weakening retail investors’ willingness to buy.
Although enthusiasm for short-term trading has cooled, U.S. households still made net purchases of approximately 840000000000 USD of U.S. stocks in the first half of the year. Since the beginning of this year, stock mutual funds and ETF have attracted approximately 350000000000 USD in inflows. However, household stock assets are highly concentrated: the wealthiest 10%of households hold approximately 87%of household stock assets.
Goldman Sachs also warned that the U.S. stock market is facing supply pressure. In the first half of 2026, listed and unlisted U.S. companies together issued approximately 175000000000 USD in net equity. The bank expects that, driven by new stock issuance and the unlocking of restricted shares, the increase in net supply in the U.S. public stock market in 2027 may reach the highest level since 2000 years.
As hedge funds reduce their positions and corporate equity supply increases, Goldman Sachs believes that whether U.S. households can continue buying stocks will be key to whether the market can absorb the additional supply. Its baseline forecast holds that, if the labor market remains stable and bond yields decline moderately, household demand for stocks is still expected to remain robust.
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