For the first time since February, the UBS Index of Investor Optimism rose this month. The index now stands at 54, four points higher than May's 50. However, notes UBS Securities LLC, the index remains at a low level.
During the final calendar quarter of 2004, the index averaged 70 and during the first quarter of this year it averaged 77. However, between February and May, the index dropped a cumulative 32 points and, notes UBS, continues to lag behind some other measures investor and consumer sentiment, as well as the stock market.