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Friday, November 20, 2009
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Investor confidence going south in JulyInvestors gloomy about global stock market, Bloomberg study finds
The market rally hasn’t done much to increase investor confidence this month, as investment sentiment fell to its lowest level since March, according to the Bloomberg Professional Confidence Survey.
Investor confidence in the Standard & Poor’s 500 stock index fell 14% to 39.59 in July, its second decrease in as many months, according to the survey, which polled Bloomberg readers. The gloomy outlook extended overseas: The survey found that confidence has declined in stocks from Brazil, Japan, Spain, Switzerland and the United Kingdom. Additionally, those surveyed expect average U.S. savings rates, which now stand at 6.9%, to decrease as unemployment grows, according to Bloomberg.
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