December 4, 2025: AAII Sentiment Survey - Optimism Spikes
Investor optimism rises in this week’s AAII Sentiment Survey, with bullish sentiment up sharply and bearish sentiment dropping to a 45-week low.
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 12.3 percentage points to 44.3%. Bullish sentiment is above its historical average of 37.5% for the first time in four weeks.
Neutral sentiment, expectations that stock prices will stay essentially unchanged over the next six months, decreased 0.4 percentage points to 24.9%. Neutral sentiment is below its historical average of 31.5% for the 72nd time in 74 weeks.
Bearish sentiment, expectations that stock prices will fall over the next six months, decreased 11.9 percentage points to 30.8%. Bearish sentiment is below its historical average of 31.0% for the first time in 45 weeks.
The bull-bear spread (bullish minus bearish sentiment) increased 24.2 percentage points to 13.5%. The bull-bear spread is above its historical average of 6.5% for the fifth time in 44 weeks.
This week’s special question asked AAII members what their favorite thing to eat on Thanksgiving is.
Here is how they responded:
Turkey: 36.4%
Pie/dessert: 22.9%
Stuffing: 20.0%
Gravy or cranberry sauce: 7.9%
Other: 11.8%
This week’s Sentiment Survey results:
Bullish: 44.3%, up 12.3 points
Neutral: 24.9%, down 0.4 points
Bearish: 30.8%, down 11.9 points
Historical averages:
Bullish: 37.5%
Neutral: 31.5%
Bearish: 31.0%
See more Sentiment Survey results.