E*TRADE Survey Finds Retail Investors Are Bullish
E*TRADE Financial Corp (NASDAQ: ETFC) disclosed the results of its recent wave of Streetwise quarterly tracking of experienced investors. The survey finds that retail investors are bullish. The company stated 61 percent of the respondents remained bullish about the market in the second quarter, which was sharply higher than the 45 percent witnessed in the first quarter.
On a year-over-year basis, E*TRADE said the bullish sentiments improved from 59 percent of the respondents favoring it last year. The survey found that over three out of five investors was bullish, which was significantly higher than the last year.
The company also pointed out that nearly three out of five believed the market would end the second quarter up 5 percent or even more. While market views were more positive than last quarter, at the same time only a little over two out of five investors agree that the American economy was healthy enough for the Fed to enact additional rate hikes this quarter.
E*TRADE's VP of Investment Strategy, Mike Loewengart, said, "Recent strong market performance at home has boosted investor optimism, but global instability — and its effects on our domestic economy — continues to weigh on investors' minds."
He added, "With many factors at play, including global central bank policies, volatile energy prices, and corporate earnings season, investors are wise to remain focused on long-term goals, even while considering potential opportunities."
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