The Conference Board says that its Consumer Confidence Index rose 12 points to 39.2, up from a revised 26.9 in March. The reading marks the highest point since November and well surpasses economists' expectations for a level of 29.5. The Expectations Index, which measures how shoppers feel about the economy over the next six months, skyrocketed to 49.5 from 30.2 in March.
Source: Conference Board
Wait a minute!
ReplyDeleteI thought that the market tended to move opposite the direction of consumer sentiment. And the same was true about the economy.
Shudn't I be short now???
The real question is why anyone would be more optimistic about the future when the government is looking to take over more industries, raise every household’s taxes by $3900/year by enacting a "cap & trade" scam. The feds are going to release the results of the stress tests in a few days which will either put one or more banks into bankruptcy or lie and declare all banks to be in great shape.
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