Bank of America’s Global Fund Manager Survey revealed the lowest cash allocation on record, signaling bullish investor sentiment as equities near the end of a strong year. The December survey showed an average net 14% underweight position in cash versus stocks, the largest underweight since the survey began in 2001. The S&P 500 is on track to end 2024 up over 26% at nearly 6,050, far exceeding earlier forecasts 5,200. Meanwhile, the Dow Jones Industrial Average is experiencing its longest daily losing streak since the 1970s.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Bank of America's Global Fund Manager Survey revealed the lowest cash allocation on record,
00:07signaling bullish investor sentiment as equity is near the end of a strong year.
00:11The December survey showed an average net 14 percent underweight position in cash versus
00:16stocks, the largest underweight since the survey began in 2001. The S&P 500 is on track to end 2024
00:24up over 26 percent and nearly $6,050, far exceeding earlier forecasts of $5,200.
00:30Meanwhile, the Dow Jones Industrial Average is experiencing its longest daily losing streak
00:35since the 1970s. For all things money visit benzinga.com slash gstv