The U.S. Consumer Confidence Index in October was 100.9, down from September’s 101.3 and below expected 102.0, according to the CEIC press release. The fall in consumer confidence reflects low American optimism about the job market and the economy in the next six months in the wake of a new wave of coronavirus infections.
- Expectations index was 98.4 down from previous 104.0 (revised from 104.0).
- Present Situation Index was 104.6 up from previous 95.8 (revised from 95.8).
- Prior Consumer Confidence revised lower from 101.8 to 101.3.
- Those saying jobs are “plentiful” are 26.5% compared to previous 23.6% (revised from 22.9%).
- Those saying jobs are “hard to get” are 19.9% compared to previous 20.3% (revised from 20.0%).
U.S. stocks are gaining. SPY is up 0.068%, QQQ: NASDAQ is up 0.78%, S&P 500 is up 0.044%
