December 11, 2025: AAII Sentiment Survey - Bullish Sentiment Increases Modestly
Bullish sentiment, expectations that stock prices will rise over the next six months, increased 0.3 percentage points to 44.6%.
Optimism among individual investors about the short-term outlook for stocks increased in the latest AAII Sentiment Survey. Meanwhile, neutral sentiment and pessimism decreased.
Bullish sentiment, expectations that stock prices will rise over the next six months, increased 0.3 percentage points to 44.6%. Bullish sentiment is above its historical average of 37.5% for the second time in five weeks.
Neutral sentiment, expectations that stock prices will stay essentially unchanged over the next six months, decreased 0.1 percentage points to 24.8%. Neutral sentiment is below its historical average of 31.5% for the 73rd time in 75 weeks.
Bearish sentiment, expectations that stock prices will fall over the next six months, decreased 0.2 percentage points to 30.6%. Bearish sentiment is below its historical average of 31.0% for the second time in 46 weeks.
The bull-bear spread (bullish minus bearish sentiment) increased 0.5 percentage points to 14.0%. The bull-bear spread is above its historical average of 6.5% for the sixth time in 45 weeks.
This week’s special question asked AAII members how they think the average consumer is faring relative to one year ago.
Here is how they responded:
Worse: 56.5%
About the same: 24.8%
Better: 16.2%
Not sure/no opinion: 2.2%
This week’s Sentiment Survey results:
Bullish: 44.6%, up 0.3 points
Neutral: 24.8%, down 0.1 points
Bearish: 30.6%, down 0.2 points
Historical averages:
Bullish: 37.5%
Neutral: 31.5%
Bearish: 31.0%
See more Sentiment Survey results.