51% of CFOs responding to the Q2 CNBC Global CFO Council survey expect the Dow to fall back below 19,000, before it is able to reach a new high.
Just over half of global CFOs surveyed by CNBC expect the Dow to fall back below 19,000 before it is able to reach a new stock market high.
A major U.S. consumer demand slump was cited by many respondents to the Q2 CNBC Global CFO Council survey. But there are stock market bulls, especially among U.S.-based CFOs, with roughly one-third saying the market can reach a new record level without experiencing the double dip that has many investors worried.
Traders work on the floor at the opening bell of the Dow Industrial Average at the New York Stock Exchange on March 18, 2020 in New York.Chief financial officers of major corporations around the globe are more likely to believe thewill retest its coronavirus crash level, below 19,000, before reaching another stock market record high above 29,000, according to the second quarter 2020 CNBC Global CFO Council Survey.
Only 22% of global CFOs expect the Dow to reach a new record high without first experiencing another major decline, while 51% of CFOs are betting that the Dow is headed back below 19,000. The bleakest outlook comes from CFOs in the EMEA region, where only 10% of CFOs believe the Dow is headed for another record. That's versus 70% of EMEA chief financial officers who see another big drop in U.S. stocks ahead.
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