Independent advisers are still "somewhat conservative" in their outlooks, but their expectations include some bright spots, according to a survey by Charles Schwab.
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Nearly 60% of those surveyed said that a double-dip recession is unlikely in the next six months, and more than 60% expect the S&P 500 Index to rise in this period. But current events still loom large. Fully 80% said that their investment decisions were affected by the European debt crisis; half pointed to declines in the Chinese market, and 40% said the Gulf oil spill concerned them.
As far as their clients are concerned, almost half (49%) were less optimistic than a year earlier, and just 16% were more optimistic.
