$DIA $SPY $QQQ $RUTX $VXX
Successful investing is about managing risk, as it cannot be avoided.
Americans are optimistic about the long-term health of the US stock market, despite being pessimistic about how investments will hold up short term, a Wells Fargo/Gallup survey said.
Most people are eager to invest, especially to build their retirement funds, the survey revealed.
The Quarterly survey of 1,076 of adults with at least $10,000 invested was conducted between 11-17 May when US stock markets rebounded off their 23 March 2020 but were below their mid-February’s highs.
The majority (60%) of investors say now is a good time to invest in stocks, and 70% are confident that it is a good way to build wealth for retirement.
Still, after the market’s volatility, investors’ general confidence about their finances and the economy took its deepest Quarterly decline in the the Wells Fargo/Gallup Investor and Retirement Optimism Index since its creation in Y 1996.
In mid-May, people were split about how the rest of the yr would turn out. About 51% said the worst was over, 49% said Y 2020 still had more pain ahead.
Just 8% of investors surveyed thought it would be smart to sell stocks to protect against more losses. About 50% said they would hold, and 35% saw it as a time to buy.
Warren Buffett famously said, ““The stock market is a device for transferring money from the impatient to the patient.”
The China Virus chaos have many people saying they want to save and budget more carefully, and 30% of employed investors said they anticipated delaying their retirement age because of the current economic downturn.
Wednesday, the major US stock market indexes finished at: DJIA -710.16 to 25445.96, NAS Comp -222.20 to 9909.17, S&P 500 -80.96 to 3050.20
Volume: Trade on the NYSE came in at 1.1-B/shares exchanged
HeffX-LTN’s overall technical outlook for the major US stock market indexes is still Bullish with a Very Bullish bias.
- NAS Comp +10.4% YTD
- S&P 500 -5.6% YTD
- DJIA -10.8% YTD
- Russell 2000 -16.7% YTD
Looking Ahead: Investors will receive the weekly Initial and Continuing Claims report, Durable Goods Orders for May, the third estimate for Q1 GDP, and the advance May reports for International Trade in Goods, Retail Inventories, and Wholesale Inventories Thursday.
Have a healthy day, Keep the Faith!