This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Wells Fargo/Gallup: Investors Turn Negative Post Elections

Overall U.S. investor optimism has plummeted to -8, down from +16 recorded in July and +24 in May according to the quarterly Wells Fargo/Gallup Investor and Retirement Optimism Index conducted November 9-17, 2012. The dip in sentiment is comparable to the -9 index recorded in November 2011, and is linked to pessimism about the overall economy. More than half (59%) say now “is not a good time” to invest in the markets, an increase from 48% recorded in May. Sixty-eight percent say they have “little to no” confidence in the stock market as “a place to invest for retirement.”

Among a list of eight factors, 69% of investors ranked the deficit and divided government as the top factors “hurting” the investing climate “a lot,” followed by unemployment (67%) and the global economic slowdown (63%).

Seventy-two percent of investors say it is “somewhat likely” to “very likely” that the automatic tax increases and spending cuts of the “fiscal cliff” will be pushed out six to 12 months to give the President and Congress more time to negotiate. Seventy percent say the country will go into recession in 2013 if “fiscal cliff” issues are not resolved. Over half of investors (54%) say the outcome of the Presidential and Congressional elections have made it “more difficult” to save for retirement.

“No question about the fact there is a gloomy sentiment among investors right now, and it looks like it’s connected to a belief that the elections will result in more Washington gridlock. The fact that 80% of investors say we need a national effort in place to encourage Americans to save is eye opening. Clearly, people want to feel like they have the wind at their backs and the tools to increase savings,” said Joe Ready, director of Institutional Retirement and Trust at Wells Fargo.

1 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs