After the late March passage of the CARES Act, stocks went on a tear even as the economy plummeted. But that run is over: The S&P 500 Index has declined nearly 10% since its peak at 3,580 points on Sept. 2.
Is this just a temporary setback, after a spring and summer of huge gains, or the start of a bigger pullback? Where can investors still find upside—and what stocks are they avoiding?
To find out, Fortune and Civis Analytics joined up to survey 1,180 U.S. investors between Sept. 11 and 14.* When we last surveyed investors, the week of March 23, we found that they were planning to buy the dip. Then the S&P 500 climbed 47%.
Now it looks like investors are getting more bearish. Only 28% of investors see the S&P 500 finishing the year above 3,000 points, and a meager 7% see it over 3,500 points. Meanwhile, … Read More