U.S. Stock Pessimism Brightens September Outlook: Chart of Day
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Investors are so down on U.S. stocks that any rebound in sentiment may head off the market’s typical September slump, according to Thomas J. Lee, JPMorgan Chase & Co.’s chief U.S. equity strategist.
Lee cited the results of separate weekly surveys by the American Association of Individual Investors and Investors Intelligence, which tracks the views of newsletter writers, in a report today. Both gauges signaled that pessimism is as pervasive as it was when the most recent bear market ended about 18 months ago.