Investors and business leaders are feeling optimistic about the market and economic outlook under President-elect Donald Trump’s administration, according to the latest Investor Watch Survey by UBS Wealth Management Americas. Tom Naratil, UBS president of Americas, appeared on the FOX Business Network Wednesday to discuss the results of the survey.
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Nearly 70% of investors surveyed are now expecting strong stock market returns in the next six months.
“Investors, when they describe how they feel, they’re feeling more hopeful, more confident, sometimes they even use the word ‘relieved’ and I think if you put it in contrast to where they were before the election, they were very cautious,” Naratil told host Maria Bartiromo.
Much of the recent attention on U.S. jobs has centered around Trump taking on major corporations such as United Technologies’ (NYSE:UTX) Carrier and General Motors (NYSE:GM). This has overshadowed optimism among small business owners about investing and jobs, with 41% reporting they planned to invest in their business in the next year and 30% saying they plan to increase hiring.
“A sub-segment that we actually took a look at in our most recent Investor Watch was to focus in on the business owner and what you see is a huge amount of optimism there and certainly in the form of investment and hiring.”
Despite small business owners’ optimism, they also hope to see real progress toward Trump’s campaign promises on issues such as tax and regulatory reform.
“They [business owners] have a very demanding list for the incoming administration and for those on Capitol Hill in the first hundred days. “