Millionaires show signs of optimism, but remain wary
The Spectrem Millionaire Investor Index in July rose 4 points to -16 — “mildly bearish.”
The Spectrem Millionaire Investor Index in July rose 4 points to -16 — “mildly bearish.”
The advance, though not great, represents an improvement, coming on the heels of an 18-point drop in June — the biggest one-month decline since the index’s inception in February 2004.
Meanwhile, the Spectrem Affluent Investor Index, which measures the investment outlook of households with $500,000 or more in investible assets, advanced 1 point in July to -19.
“Millionaires and the broader affluent population saw their investment optimism improve modestly in July, signaling continued caution following June’s significant declines,” George H. Walper Jr., president of Spectrem Group of Chicago, said in a statement.
“Despite recent stock market gains, the nation’s wealthiest investors most likely will remain cautious until concerns such as unemployment and political uncertainty surrounding the health care debate have stabilized,” he said.
The Spectrem Affluent Investor Index is based on 250 monthly interviews.
The Spectrem Millionaire Investor Index is based on a subset of the overall survey group.
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