Americans are extremely bullish on the stock market: 50% of Americans now expect the stock market to rise over the next 6 months, the 2nd-highest reading since 2020, according to a January Gallup poll. This is above the long-term average of ~45% seen from 2006 to 2019. By comparison, the previous peaks were 61% in January 2025 and 59% in December 2003. At the same time, only 25% surveyed saw the market declining, the 2nd-lowest reading since 2014. Meanwhile, 50% expect unemployment to increase, the highest percentage since May 2009, even higher than the 49% seen during the 2020 pandemic. The disconnect between stock market expectations and economic fears has rarely been this wide.

Extremely BULLISH