As one might expect given the big rally over the last several days, bullish sentiment on the part of individual investors ticked higher this week, but at just 26.8%, the latest sentiment survey from AAII shows that the vast majority of investors have been slow to get back in the pool as bearish sentiment remains elevated at 34.20% and the percentage of investors who just can’t make up their mind increased to 39%.
For today, all eyes are on Jobless Claims which came in at 222K versus estimates for a reading of 215K. Going forward, this afternoon’s earnings report from Broadcom (AVGO) will help to decide the path that semis take to close out the week. Please read today’s Morning Lineup for our latest take on events from overnight and this morning, including Industrial Production out of Europe and German Auto Exports.
On the subject of Industrial Production out of Europe, this morning’s print of a decline was right inline with expectations, but that doesn’t mean it was particularly good. As shown in the chart below, m/m readings have now only increased two times in the last eleven months!
Start a two-week free trial to Bespoke Premium to see today’s full Morning Lineup report. You’ll receive it in your inbox each morning an hour before the open to get your trading day started.