A majority of respondents — 61% — in the latest CNBC Delivering Alpha Stock Survey believe the broader market has run too far, too fast heading into the second quarter and a pullback is near. The S & P 500 is up more than 9% in the first quarter, which would be its best start to a year since 2019. However, just 39% think there's more room to run. One of the biggest themes of the year so far for the market is the Federal Reserve and the assumptions it will cut rates three times in 2024.
When asked where they were most bullish outside of the US, 40% said Japan, 26% said Europe and an equal amount said they would not invest outside of the United States. Just 4% believe China is the best place to invest outside of the US right now. The MSCI iShares China ETF is off 21% from the 52 week high it hit last March and down more than 7% in six months. When it comes to investing domestically 26% said the Nasdaq 100 was the best place to be compared to 13% from the S & P 500.