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Stock futures are little changed Wednesday night after U.S. downgrade spurs a sell-off: Live updates


2 Hours Ago

Growing bullishness “now an increasing concern,” Investors Intelligence warns

Through Monday’s trading, at any rate, bullish “sentiment continues to show more optimism, with the reading now clearly in the initial caution zone,” the weekly Investors Intelligence survey of financial newsletter editors and advisors said.

Bullish opinion grew to 57.1% of those polled, up from 55.6% a week ago and only a hair below the November 2021 peak of 57.2% that foreshadowed the January 2022 all-time high in stocks. “The bull count now exceeds the 55% initial caution level, which says to prepare a more defensive strategy,” II warned.

Bearish opinion narrowed to 18.6% from 19.4% last week, while the “correction” camp, expecting a short-term pullback in prices, dropped to 24.3% from 25.0%.  

The so-called “bull-bear spread” widened again, to 38.5 points — the highest since the summer of 2021 —from 36.2 points the past two weeks, and above the recent top of 36.6 points dating from the end of June 2023. In mid-May, the spread was just 21 points, and a difference above 30 points “is the first sign of elevated risk” for contrarian advisors going against the crowd, II said.

– Scott Schnipper

3 Hours Ago

Stock futures open little changed



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