Consumer Confidence (MSI) Up in March, Americans More Satisfied
$DIA, $SPY, $QQQ, $VXX
US Consumer Confidence up in March as Americans were more satisfied than any time in 16 years with the current state of their finances and the economy.
The University of Michigan (MSI) said Friday that its preliminary index of sentiment increased to 97.6 from 96.3 in February. The median projection survey called for 97, with estimates ranging from 95 to 100.
The index of current conditions jumped 3 points to 114.5, the highest reading since November 2000.
Confidence near a 13-year high amid a stronger job market and prospects for faster growth under The Trump Administration.
“The sentiment data has been characterized by rising optimism as well as by rising uncertainty due to the partisan divide,” the Director of the University of Michigan consumer survey, said in a statement. “Optimism promotes discretionary spending, and uncertainty makes consumers more cautious spenders.”
The gauge of expectations was little changed at 86.7 from a 3-month low of 86.5 in February.
Respondents expected the inflation rate in the next year will be 2.4%, compared with 2.7% in the February survey.
Over the next 5 – 10 years, they project a 2.2% rate of price growth, the lowest reading since Y 1980, after 2.5% in the prior month.
Friday, the major US major stock market indexes finished at: DJIA -19.93 at 20914.62, NAS Comp +0.24 at 5901.00, S&P 500 -3.13 at 2378.23
Volume: Trade on the NYSE was V-heavy with 2.15-B/shares exchanging hands.
- NAS Comp +9.6% YTD
- S&P 500 +6.2% YTD
- DJIA +5.8% YTD
- Russell 2000 +2.5% YTD
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Have a terrific weekend.