Bank of America’s Global Fund Manager Survey revealed the lowest cash allocation on record, signaling bullish investor sentiment as equities near the end of a strong year. The December survey showed an average net 14 underweight position in cash versus stocks, the largest underweight since the survey began in 2001. The S&P 500 is on track to end 2024 up over 26 at nearly 6,050, far exceeding earlier forecasts 5,200. Meanwhile, the Dow Jones Industrial Average is experiencing its longest daily losing streak since the 1970s.