LIVE MARKETS-Bears growl, but sentiment remains "unusually high" - AAII

Reuters · 08/30 17:51

Nasdaq, S&P 500 modestly higher; Dow turns red

Cons disc up most among S&P sectors; energy biggest loser

Europe's STOXX index up ~0.1%

Dollar gains; gold, bitcoin dip; crude slides >2%

U.S. 10-year Treasury yield rises to ~3.91%

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BEARS GROWL, BUT SENTIMENT REMAINS "UNUSUALLY HIGH" - AAII

Sentiment among individual investors has grown more pessimistic, according to the latest survey from the American Association of Individual Investors (AAII).

Bearish sentiment, or expectations that stock prices will fall over the six months, added 3.3 percentage points to 27.0%, still well below its historical average of 31.0% where it's been for three straight weeks.

Bullish sentiment, or the belief that stock prices will increase over the six months, shed 0.5 percentage point to 51.2%, which AAII characterizes as "unusually high," remains well above its historical average of 37.5%, where it's been 42 weeks of the last 43.

Neutral sentiment, which reflects expectations that stock prices will stay unchanged over the six months, dropped 2.9 percentage points to 21.9%, marking its eighth consecutive week below its long term average of 31.5%.

The bull/bear spread (bullish minus bearish) by 3.8 percentage points to 24.2%, of its 6.5% historical average for the 16th week of the last 17.

This week's question posed to AAII members was whether they believe gold's recent record high prices are sustainable over the year.

Among the survey respondents, 27.0% expect gold prices to increase further, 16.2% think they will stabilize at current levels, 29.7% see a moderate price drop and 3.2% expect a significant dip in gold prices. The remaining 23.8% said they don't follow gold prices/had opinion.

(Stephen Culp)

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