The latest survey of investor optimism conducted by UBS Securities and the Gallop Organization finds investor optimism slipping in July, as investors were more upbeat about their personal portfolios but "more cautious about the outlook for the economy" over the next 12 months. "Despite the sharp rise in the stock market this summer, investors are showing concern about the health of the overall U.S. economy, given the ongoing weakness in the housing market, rising food and energy prices, and turmoil in the sub-prime mortgage market," said Maury Harris, chief U.S. economist at UBS Investment Bank. Energy prices continue to worry investors, UBS found, with seven in ten respondents saying they believe energy prices are hurting the current investment climate "a lot."