News Formal

Consumer survey shows record high optimism toward the stock market, even as election looms

  • 📰 CNBC
  • ⏱ Reading Time:
  • 18 sec. here
  • 8 min. at publisher
  • 📊 Quality Score:
  • News: 32%
  • Publisher: 72%

Investment Strategy News

Stock Markets,Voting,Government And Politics

Consumer confidence that stocks will contin ue to rise in price has hit an all-time high, but the BTIG investment bank isn't quite so optimistic.

Despite increased market volatility stemming from the U.S. Presidential election on Tuesday, consumer confidence toward equities has reached its most bullish point ever. The latest Consumer Confidence survey by The Conference Board showed 51.4% of participants — the highest level on record — expect stocks to rise over the next year. This is despite rising uncertainty in the markets from the looming election, evidenced by the stock market's inability to score further gains on Monday.

Krinsky noted that bonds remain "slippery," with the 10-year Treasury yield potentially climbing back to 4.5%. The yield on the 10-year Treasury was last down around 5 basis points at 4.315%. The Magnificent Seven , which has powered much of the market's rally in the past two years, is also at a critical point, according to Krinsky.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

BTIG warns of a 5% stock market pullback in the coming weeksThe S&P 500 suffered its first three-day decline since early September. BTIG thinks there may be more near-term downside ahead.
Source: CNBC - 🏆 12. / 72 Read more »