US Consumer Comfort on Highs

$DIA, $SPY, $QQQ, $RUTX, $VXX

• S&P 500 retests its 50-Day Moving Average at 2717

Americans’ sentiment improved to the best mark in 2 months on brighter views of the economy and personal finances, the Consumer Comfort Index reveled Thursday.

Key Takeaways

Views about the economy are hovering near the best level since Y 2000 as a strong labor market and durable expansion offset any concerns about the effects of trade tensions.

Lower taxes and a recent decline in gasoline prices are leaving more money in consumers’ pockets, with the survey showing sentiment among those earning less than $50,000 advancing to the highest in data back to Y 2010.

Other Details

• The gap between high and low-income earners remains about even with historical levels after easing from a record about a year earlier
• Sentiment among Democrats rose this week to match the highest reading since early March; comfort eased among Republicans from an all-time high the prior week

Thursday, the major US stock market indexes finished at: DJIA +98.46 at 24216.05, NAS Comp +58.60 at 7503.71, S&P 500 +16.68 at 2716.05

Volume: Trade on the NYSE came in at 809-M/shares exchanged

• NAS Comp +8.7% YTD
• Russell 2000 +7.1% YTD
• S&P 500 +1.6% YTD
• DJIA -2.0% YTD

HeffX-LTN’s US Major Stock Market Indexes Technical Analysis

MAGA

  comfort, confidence, consumer, DIA, earning, economy, high, lower, QQQ, RUTX, sentiment, SPY, taxes, US, VXX

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