Neutral sentiment rises in latest AAII survey
Major stock indexes down: Nasdaq tumbles >2%
All 11 S&P sectors red; communication services down most
Dollar up; gold, oil down; bitcoin down >4%
U.S. 10-yr Treasury yield dips to 3.72%
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NEUTRAL SENTIMENT RISES IN LATEST AAII SURVEY
Neutral sentiment among individual investors increased, while optimism and pessimism decreased, according to the latest survey from the American Association of Individual Investors.
Neutral sentiment, or the belief that stock prices will stay essentially unchanged over the next six months, increased 7.9 percentage points to 29.8%, the weekly survey released Thursday showed. Neutral sentiment was below its historical average of 31.5% for the ninth consecutive week.
Bullish sentiment, or the expectation that stock prices will rise over the next six months, decreased 5.8 percentage points to 45.3%, above its historical average of 37.5% for the 43rd time in 44 weeks.
Bearish sentiment, or the expectation that stock prices will fall over the next six months, decreased 2.1 percentage points to 24.9%, below its historical average of 31.0% for the fourth consecutive week.
The bull-bear spread (bullish minus bearish sentiment) decreased 3.8 percentage points to 20.4%, above its historical average of 6.5% for the 17th time in 18 weeks.
This week's question given to AAII members was whether they were postponing any investment moves until after the November election.
Among survey respondents, 60% said no, they are sticking to their long-term plan; 15.9% said they had no plans to postpone right now but might change them after election results are known; 9.6% said yes, they are postponing putting new money to work; another 9.6% said they had switched to a more conservative allocation until after the election and 4.1% said they are not sure.
(Caroline Valetkevitch)
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