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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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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