FYI: Maybe they're still feeling the sting of January 2018 when they basically went 'all-in' on stocks (and bitcoin for that matter) and then saw prices crater for two months, but despite more new highs for equities, US consumers haven't been really quick to embrace the market. In Tuesday's Consumer Confidence Report, for the question which asks consumers for their views on the direction of US equities, 41.6% expect prices to continue rising, while only 22.4% expect lower prices. Granted, the 41.6% reading is a relatively big increase from June when the reading was at 33.5%, but it's still below the 42.1% reading from May and the peak reading of 51.0% from January 2018. As shown in the green line of the chart, ever since the peak reading in January 2018, we have been seeing lower highs in the percentage of consumers expecting higher stock prices.
Regards,
Ted
https://www.bespokepremium.com/interactive/posts/think-big-blog/americans-still-not-all-in-on-equities
