Affluent Investor Confidence at a Four Month High

The Spectrem Millionaire Investor Confidence Index (SMICI)^SM jumped 7 points to a neutral  -6, its biggest gain since last February. The Spectrem Affluent Investor Confidence Index (SAICI)^SMinched upward for the third straight month, gaining 1 point to a mildly bearish -13.

Driving the improvement for the second consecutive month was increased investment in Stocks and Stock Mutual Funds, especially in Millionaire households. Affluent investors also moved away from Cash this month. There was, however, a slight increase in those who chose to "Not Invest." More Millionaires than Non-Millionaires made this choice.

The Affluent Household Outlook also showed modest improvement this month, thanks again to a stronger expression of confidence in the Economy in Millionaire Households. This component, while still in negative territory, gained more than 18 points for its best reading since July.

Affluent investors said International Problems was the news story that was most impacting their economic outlook. The tumultuous events overseas in the past month, including the turmoil in Greece and Italy, which resulted in the resignations of both country's prime ministers, had reverberations in global stock markets. Investors also cited the Political Environment, which is only getting stormier as the presidential race heats up and the U.S. economy's growth remains, in the words of Federal Reserve Chairman Ben Bernanke earlier in the month, "frustratingly slow."

Both encompass other ongoing issues that Affluent investors said were also impacting their economic outlook, including Stock Market Conditions, Unemployment and the Deficit.