2 minute readJanuary 28, 20222:01 PM UTCLast Updated ago

LIVE MARKETS Bearishness hits 9-year high

Summary
Companies

Nasdaq 100 e-mini futures rise; Dow, S&P 500 slightly red
U.S. Dec personal inc MM < est; core PCE price index MM in-line
Euro STOXX 600 index down ~1.6%
Dollar dips; crude gains; gold, bitcoin fall
U.S. 10-Year Treasury yield edges up to ~1.82%

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BEARISHNESS HITS 9-YEAR HIGH (0900 EST/1400 GMT)

The percentage of individual investors with a bearish outlook for the U.S. stock market hit a 9-year high in the latest American Association of Individual Investors Sentiment Survey (AAII).

AAII reported that bearish sentiment, or expectations that stock prices will fall over the next six months, gained by 6.2 percentage points to 52.9%, holding above its historical average of 30.5% for the 10th-consecutive week. Additionally, this particular reading is the highest since April 11, 2013 (54.5%)and is the 41st highest reading of bearish sentiment in the survey’s history.

Bullish sentiment, or expectations that stock prices will rise over the next six months, rose by 2.2 percentage points to 23.1%, which is still substantially below its historical average of 38.0%. Bullish sentiment levels have now been below the historical average for 10-straight weeks.

Neutral sentiment, or expectations that stock prices will stay essentially unchanged over the next six months, slid by 8.4 percentage points to 23.9%. Neutral sentiment was last lower on September 2, 2021 (23.2%).

With these changes, the bull-bear spread fell to –29.8 from -25.8 last week read more . This is the most negative the spread has been since April, 2013: