Tuesday, 9 August 2016

Stocks flat, investors showing neither optimism nor fear

Stock markets were mostly flat on Monday.

The S&P 500 fell 0.1 percent and the STOXX Europe 600 rose 0.1 percent.

Asian stocks showed substantial gains earlier in the day though. The Nikkei 225 in particular soared 2.4 percent.

While US stocks pulled back on Monday, United Capital CEO Joe Duran told CNBC that stocks might see a "surprisingly strong" end of the year.

"The market does not go down when people want it to go down. It goes down when everybody is incredibly optimistic. We're not seeing that," he said.

On the other hand, UCX's co-founder and chief economist Jack Bouroudjian thinks that there is "a lot of complacency out there".

"When I see the VIX under 12, when I see the weekly VIX pushing 7, that tells me there is no fear in this marketplace and that is something to worry about," Bouroudjian told CNBC.

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