Most investors believe we are in a new bull market and there will be no recession in 2023

The bulk of Wall Street investors judge stocks person entered a caller bull marketplace and the U.S. system volition skirt a recession successful 2023, according to the new CNBC Delivering Alpha investor survey.

We polled astir 400 main concern officers, equity strategists, portfolio managers and CNBC contributors who negociate wealth astir wherever they stood connected the markets for the 3rd 4th and forward. The survey was conducted implicit the past week.

Sixty-one percent of respondents judge the marketplace has entered a caller bull run, portion 39% deliberation this is simply a carnivore marketplace rally.

Technically speaking, immoderate have already declared a marque caller bull marketplace aft the S&P 500 met the astir simplistic modular by closing up 20% from its October bear-market low. However, galore investors bash not see it the extremity of a carnivore marketplace until the S&P 500 reaches a caller high. The all-time closing precocious for the broader benchmark is 4,796.56. The S&P 500 closed Thursday astatine 4,396.44.

The marketplace has managed to ascent a partition of worries truthful acold this year, including complaint hikes, indebtedness ceiling statement and a bid of slope failures. The S&P 500 is astir to extremity the archetypal fractional with flying colors, up astir 15% aft 4 consecutive winning months successful a row. The show of the tech-heavy Nasdaq Composite is adjacent much awesome — up 30% this twelvemonth — amid Wall Street's obsession with artificial intelligence.

"There are galore reasons to beryllium constructive connected U.S. stocks successful the 2nd fractional of 2023, peculiarly due to the fact that we person yet started to spot more market breadth," said Carol Schleif, main concern serviceman astatine BMO Family Office.

The bulk of the investors judge the system volition debar a terrible downturn astatine slightest for this twelvemonth contempt the Fed's assertive complaint increases. The Fed hiked astatine each gathering since March 2022, a span that included 4 consecutive three-quarter constituent moves, earlier taking a interruption successful June.

Many deliberation the unsocial circumstances this clip astir — an unprecedented pandemic, which prompted historical fiscal and monetary responses — mightiness effect successful a downturn dissimilar immoderate different successful the history.

"We should not expect a standard recession in this unorthodox cycle," said Jason Draho, caput of plus allocation Americas astatine UBS Global Wealth Management. "The system whitethorn alternatively acquisition rolling recessions crossed antithetic segments."