US Consumer Confidence at 16-Year High, Sign of Sustained Spending
$DIA, $SPY, $QQQ, $VXX
Consumer confidence, including views about the US economy, last week marked a 16-year high, indicating spending will remain solid.
Confidence among Republicans rose to an almost 10-year high, while comfort of independents was strongest in more than 16 years, Democrats are pessimistic.
Highlights of Consumer Comfort for the week ended 20 August 2017
- Weekly consumer comfort gauge climbed to 52.8, the sixth straight advance and the highest since August 2001, from 52.1
- Measure of current views of economy rose to 53.2, highest since April 2001, from 51.3
- Index of buying climate increased to 46, the strongest since late May, from 45.4
- Personal finances gauge eased to 59 from a 10-week high of 59.7
A robust labor market, steady wage growth and limited price pressures are making consumers more upbeat about buying conditions.
The 6th straight weekly advance is the longest streak since the frame ended 10 January 2016 is consistent with forecasts that household spending will continue to fuel the economy in 2-H of the year.
Aside from pessimism among Democratic voters, the report also shows little impact from domestic worries related to recent violence in Charlottesville, Virginia, or geopolitical concerns related to North Korea nuclear threats.
Sentiment among those earning $100,000 or more rose to the highest since March on the heels of elevated equity markets
Comfort advanced in the Northeast to the highest since March 2007 and rose in the West
Confidence among Republicans rose to an almost 10-year high, while comfort of political independents was strongest in more than 16 years
Among married people, weekly sentiment reached the highest level since March 2001.
Thursday, the US major stock market indexes finished at:
Volume: Trade on the NYSE came is lite again at 719-M/shares exchanged.
- NAS Comp +16.6% YTD
- DJIA +10.4% YTD
- S&P 500 +9.2% YTD
- Russell 2000 +0.9% YTD
|HeffX-LTN Analysis for DIA:||Overall||Short||Intermediate||Long|
|Neutral (0.21)||Neutral (-0.08)||Neutral (0.08)||Very Bullish (0.62)|
|HeffX-LTN Analysis for SPY:||Overall||Short||Intermediate||Long|
|Neutral (-0.11)||Bearish (-0.47)||Neutral (0.02)||Neutral (0.12)|
|HeffX-LTN Analysis for QQQ:||Overall||Short||Intermediate||Long|
|Neutral (0.07)||Bearish (-0.26)||Neutral (0.02)||Bullish (0.46)|
|HeffX-LTN Analysis for VXX:||Overall||Short||Intermediate||Long|
|Neutral (-0.15)||Neutral (0.20)||Neutral (-0.23)||Bearish (-0.42)|