Advisors' confidence in the economy and stock market rebounded in April
after taking a record plunge in March, according to Rydex
AdvisorBenchmarking Inc.
The Advisor
Confidence Index (ACI)-which takes a monthly survey of advisors'
attitudes toward the economy and markets-revealed that advisors grew
more confident in the stock market and the short-term economic outlook.
The ACI increased
3.2% in April, from 112.50 to 116.11. In March, the ACI took a dramatic
plunge from 123.88-the largest one-month drop since Rydex created the
benchmark.
A breakdown of the
survey results showed a 6.77% gain in advisors' stock market outlook, a
3.46% gain in the six-month economic outlook and a 3% gain in the
current economic outlook.
Advisors, however, saw their confidence level drop 0.29% when it came to the 12-month economic outlook.