Thursday, June 20, 2024

How investors on Seeking Alpha feel about equities, the S&P 500, and where to invest

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Seeking Alpha’s Wall Street Breakfast, the flagship daily business news summary publication, conducted an investor sentiment survey with questions on current hot topics.

Its inaugural survey received about 1,140 responses. For comparison, the AAII Investor Sentiment Survey gets an average of 300 responses.

First, 504, or 44.2% of respondents, said they are neither bullish nor bearish on equities (SP500), (DJI), (COMP:IND) for this year.

Just five respondents less — 39.4% of respondents — said they feel bullish about equities.

Also, 130, or 11.4% of respondents, said they feel bearish; 32 respondents, or 2.8%, said they feel “extremely bullish” and only 2.2% of respondents, or 25, said they feel extremely bearish about equities.

When it came to the S&P 500 (SP500), most respondents — 41.4% of them — also said that they believe it would close at $5,400 by the end of June, advancing 2%. The index is currently at $5,360.

Almost a third of them — 31.5% — said they believe the S&P 500 (SP500) will stay at $5,300 by the end of June.

About 11.9% of respondents said they believe the S&P 500 (SP500) will reach $5,500 by June-end, up 4%; and 10% of respondents said they believe it will lose 2% reducing to $5,200 by the end of June.

Only 5.1% of respondents said they think the S&P 500 (SP500) will go down to $5,100.

Another question asked respondents if they had an additional $1,000 to invest, which asset class would they buy right now. More than half of respondents — 62.7% of them, or 712 people — said they would invest in stocks.

About 19.5% of respondents said they would invest in money market funds (SPAXX), (VMFXX), (VMRXX), (ZMMK:CA); 12.7% said they would invest in bonds (US10Y), (US30Y), (US5Y); and 5.1% said they would invest in cryptocurrency (BTC-USD), (ETC-USD), (BNB-USD).

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