Dow surges 500 points, led by Nike, on hope earnings will be better than feared – CNBC

December 21, 2022 by No Comments

Tesla, Apple among most bought securities in 2022, Vanda Research says

Despite the volatile times, retail investors flocked toward shares of battered technology names in 2022, according to data compiled by Vanda Research.

Investors bought a net $15.4 billion worth of Tesla in 2022, a 424% increase over 2021. That allowed the electric vehicle stock to outrank Apple as the most popular name among retail investors.

Net retail purchases totaled about $15.2 billion for Apple, up 18% over the previous year. Advanced Micro Devices followed behind as the third most popular standalone stock, with investors buying a net $10.6 billion worth.

But it wasn’t individual stocks that investors bought the most of in 2022. The SPDR S&P 500 ETF Trust and Invesco QQQ Trust were the most bought securities, data suggests.

The top three least popular names bought this year were AMC, Palantir Technologies and Micron Technology, Vanda said. A slew of meme stocks also experienced year-over-year declines in purchases, despite a jump in inflows during the first quarter.

“We believe that large portfolio losses accumulated at the aggregate level are behind this drop in speculative behavior,” Vanda wrote.

The firm’s data also suggests that the average retail portfolio is on pace to end the year down 35% from all-time highs.

— Samantha Subin

Investors Intelligence bullishness slid to 37.5% in latest weekly survey

Investors Intelligence weekly survey of financial newsletter writers showed bullishness declining to 37.5% from 42.9% last week and 43.3% two weeks ago (the highest since mid-August’s 45%).

Opinion remains higher than the recent six-year low in bullishness of 25% reached at the market bottom in early October, and 25.6% at the earlier low in mid-June.

Bearishness edged up to 33.3% in the latest survey from 31.4% last week, still far below the 44.1% reached in both mid-October and mid-June. (Or, for comparison’s sake, 41.7% in March 2020 at the start of the lockdown.)

The “correction” camp grew to 29.2% from 25.7% the week before, also below the recent high of 40.3% reached in late September.

The so-called “bull-bear spread” fell to +4.2% from +11.5% last week, and has been positive for six weeks. The higher the positive spread, the greater the risk, from the perspective of contrarian investors, while negative readings imply less risk. For example, the spread was -19.1% in early October 2022 and -17.6% in June 2022, while the March 2020 spread got to -11.6%, Investors Intelligence said.

The American Association of Individual Investors weekly sentiment survey is released Thursday.

— Scott Schnipper

Strong bookings at Carnival bode well for cruise lines in 2023

Analysts and investors recently told CNBC Pro that they were optimistic about the outlook for several …….



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