Investor confidence has reached its highest level since July 2004, according to the latest UBS/Gallup Index of Investor Optimism. In the latest study, the index rose 14 points to 93 out of a baseline of 124 points, and far ahead of the 59 points reported in September.
In other results, the survey found:

• 58% of investors say the economy is in a "sustained expansion or recovery," up from 50% in December and 33% in October.
• 67% of those polled are optimistic about hitting their investment targets during the next 12 months, with 70% confident of reaching their goals over the next five years.

70% listed healthcare costs and energy prices as "extremely" important issues, followed by jobs at 59%, and ahead of terrorism threats and the Iraqi war.