Americans Place Highest-Ever Odds Stocks Will Appreciate

Bullishness coincides with all-time high for S&P 500 Index

American consumers are pretty bullish on the U.S. stock market. Respondents in the latest University of Michigan survey of consumer sentiment said there was a 65 percent chance that $1,000 invested in a stock fund today will have appreciated in a year’s time. That’s the highest probability in records dating back to 2002 and coincides with an S&P 500 Index that surpassed 2,500 for the first time ever on Friday. Contrarians would tend to view such optimism as a red flag and urge investors to be cautious.

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