Positive market reversal | Fed lends support once again | Hertz with an interesting pitch

The Dow was down more than 700 points at one point Monday.

VIEW IN BROWSER | SUBSCRIBE MON, JUN 15, 2020 EVENING BRIEF AS OF MON, JUN 15, 2020 • 04:41 ET DJIA 25763.16 +0.62% +157.62 S&P 500 3066.59 +0.83% +25.28 NASDAQ 9726.02 +1.43% +137.21   Most Active DOW NAME LAST CHG %CHG BA 190.94 +1.43 +0.75% AAPL 342.99 +4.19 +1.24% PFE 33.36 -0.39 -1.16% S&P 500 NAME LAST CHG %CHG AAL 16.70 -0.04 -0.24% F 6.50 +0.04 +0.62% GE 7.24 -0.01 -0.14% NASDAQ NAME LAST CHG %CHG AAL 16.70 -0.04 -0.24% UAL 39.00 -0.66 -1.66% AMD 54.68 +1.18 +2.21% EDITOR'S NOTE The stock market has taken investors and traders for a wild ride this year and Monday was no exception.   The Dow Jones Industrial Average, S&P 500 and Nasdaq Composite all kicked off the session with a massive drop. At its session low, the Dow fell more than 760 points. But the major averages later recovered to start the week with solid gains. Monday's sharp reversal came as the Federal Reserve said it will buy individual corporate bonds in the secondary market, expanding its efforts to support markets during the coronavirus pandemic. In March, the central bank said it would buy corporate bond exchange-traded funds, helping fuel the market's run-up from the crisis lows.   A curious thing occurred during the market's reversal since its March low, the so-called dumb money has outperformed Wall Street professionals. CNBC's Maggie Fitzgerald writes that the top stock picks from retail investors have outperformed hedge funds' favorite names during the market comeback. The data, which was compiled by Goldman Sachs, shows a portfolio made up of stocks popular among retail investors is up 61% since the late-March low while the bank's hedge fund basket has risen only 45% over the same time period.   What's more, Fitzgerald also found that Robinhood traders — who have received flak from Wall Street professionals for rushing into beaten-down assets such as airlines — nailed the market bottom in late March.   New data out Monday (pictured above) showed Robinhood users' total holdings increased in March, just as the market began its blistering rally.   Score one for the little guy.   Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world. Fred Imbert | CNBC Markets Reporter @foimbert TOP NEWS  Dow closes 150 points higher as Fed announcement sparks big comeback from massive losses The Fed says it is going to start buying individual corporate bonds Hertz says it expects stockholders to lose all their money in filing for selling more stock Supreme Court rules workers can't be fired for being gay or transgender Leon Cooperman says speculation by Robinhood traders in stocks like airlines will 'end in tears' Trump to sign executive order on police reform Tuesday Follow Robinhood traders? Amateurs' favorite stocks are beating hedge fund picks, Goldman says Robinhood traders nailed the market bottom, debunking theory retail investors are the dumb money Texas reports record-breaking coronavirus hospitalizations, the sixth new high in a week Treasury Secretary Steven Mnuchin says he will talk to lawmakers about small business bailout disclosure     TOP VIDEO Six former eBay employees accused of stalking by FBI, here's what we know   CNBC PRO Wall Street veteran Byron Wien says buy distressed shares in airlines, hotels and energy   SPECIAL REPORTS Transparency in Corporate America can help drive minority empowerment, ESG gains: NAACP ETF creators As Tesla falls on downgrades, investors should consider buying the dip: Traders   Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy   © 2020 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS