The Advisor Confidence Index (ACI) that gauges advisor views on the U.S. economy rose almost 7 percent in June compared to May to close at 104.58, officials reported Tuesday.
Advisors are cautiously optimistic about the ACI rise.
"Despite the sideshow unfolding in Europe capturing much of the U.S. financial media's attention, when they aren't obsessing about Apple or Facebook, investors would be wise to focus on the global recession unfolding before our collective eyes," said James Dailey of TEAM Financial Managers. "With corporate profit margins coming off record levels and still 70 percent plus above long-term averages, U.S. stocks are very vulnerable as profit expectations plunge in the coming weeks and months."
Rob Siegmann of Financial Management Group, cited the influence of events outside the U.S. "We agree that international fears have overshadowed the American Recovery that is prevalent in real estate, private sector jobs, access to cheap capital and talented labor force."
Three of the four components of the ACI posted an increase in Jun. The "Current Economic Outlook" measure slipped slightly.
Current economic outlook: -1.57%
Six-month economic outlook: +4.67%
12-month economic outlook: +12.37%
Stock market outlook: +12.54%
Modeled after the Conference Board Consumer Confidence Index, the ACI captures the sentiments of 150 independent registered investment advisors (RIAs).