Wednesday, February 26, 2014

How Do You Like This Market?

How you feel about the current state of the stock market could depend heavily on your income. The February Consumer Confidence survey asked Americans about their opinion toward the stock market and found that attitudes overall are getting much more pessimistic. Just 29.7 percent said they expect stock prices to rise, while 33.1 percent expect them to fall. This is the first time since October that more people expect prices to fall.

But the opinions are strongly divided by income. Confidence among people with incomes of more than $50,000 a year was rated at 99.3, while confidence among those with incomes of $35,000 to $50,000 was just 63.4. That is the second-widest income spread in record since this particular survey started in 1987.

No matter where you are on the income scale, though, your confidence has likely been shaken. The overall market confidence level saw its biggest drop in more than a year.

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