U.S. Consumer confidence plummeted to a reading of 96.1 in November, down from October’s 101.4, and expected 98, according to Nasdaq. The fall in consumer confidence was attributed to a widespread surge in COVID-19 infections and business restrictions that outweighed encouraging vaccine news.
- The expectations index was 89.5, down from previous 98.2
- The present situation index fell to 105.9 from the previous 106.2
- Those saying jobs are “plentiful” remained unchanged from the previous level at 26.7%
- Those saying jobs are “hard to get” remained unchanged from previous 19.5%
U.S. stocks are currently gaining. SPY is up 1.57%, QQQ: NASDAQ is up 1.14%
