For the second month in a row, financial advisors'
outlook on the economy and the stock market is on the upswing,
according to new data.
Rydex AdvisorBenchmarking says its Advisor
Confidence Index (ACI) shows a 1.97% increase in June, which marks the
first time in the index's 15-month history that the ACI has increased
two months in a row.
The ACI is currently at 116.45, which is between
neutral and positive on the overall index scale, according to Rydex.
Breaking down the index further, the data showed that advisors are most
upbeat about the stock market, with an 11.69% rise in this component of
the confidence index. The 12-month outlook on the economy went up 1.04%
in June.
Advisors, however, were more pessimistic in their
short-term view of the economy. The confidence index on the six-month
economic outlook was down 2.89% and the current economic outlook was
down 0.84%.