Traders work on the floor of the New York Stock Exchange (NYSE) during morning trading on 3 January, 2024, in New York City. Photo: AFP / Angela Weiss
Retail investor confidence picked up in the last quarter of the year, reflecting a rally on Wall Street.
Sharesies Index, which guages the mood of investors using the do-it-yourself app, pointed to increased confidence that the United States Federal Reserve would cut interest rates sooner than later, as the world's largest economy appeared to be getting inflation under control.
Sharesies investors' net deposit ratio strengthened with more than $2 deposited for every $1 withdrawn, indicating investors were sticking to long-term investment goals.
Sharesies chief executive Brooke Roberts said the 2023 data also indicated a growing preference for AI-related investments.