US Households More Upbeat About Their Finances

US Households More Upbeat About Their Finances

#consumer #sentiment #virus #vaccine

$DIA $SPY $QQQ $RUTX $VXX

A gauge of sentiment among US consumers advanced for a 3rd wk running matching the highest mark since April as households grew more upbeat about their finances, the economy and the buying climate.

The Consumer Comfort Index rose 1.8 pts to 49.8 last wk, matching a mid-September reading that was the strongest since early April, data released Thursday show. The improvement coincided with welcome developments on the virus vaccine front that puts the world closer to putting the chaos behind it.

Despite the gain, the gauge is short of its pre-chaos mark and is a 3.5-pt range for the last 2.5 months.

The comfort measure of personal finances climbed to its 2nd-best mark since March against a backdrop of the stock market rally and record-low mortgage rates that have encouraged more home refinancing.

More upbeat views about finances, along with a 7-wk high in the buying climate gauge, help explain strong retail sales in recent months, despite a softer advance in October.

The comfort index is based on a 4-wk rolling average and reflects interviews from 20 October to 15 November, which included the election.

Sentiment among political independents last wk advanced to the highest marks since late March, and confidence improved for Republicans and Democrats.

Meanwhile, the monthly economic expectations index was unchanged in November at 43, the highest since March though down from a pre-virus chaos high of 57.5 in February.

Thursday, the benchmark US stock market indexes finished at: DJIA +44.81 at 29483.17, NAS Comp +103.11 at 11904.63, S&P 500 +14.08 at 3581.87

Volume: Trade on the NYSE came in at 885-M/shares exchanged

HeffX-LTN’s overall technical outlook for the major US stock market indexes is Bullish with a Very Bullish bias.

  • NAS Comp +32.7% YTD
  • S&P 500 +10.9% YTD
  • Russell 2000 +6.9% YTD
  • DJIA +3.3% YTD

Looking Ahead: Investors will not receive any notable economic data Friday.

Have a healthy day, Keep the Faith!

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Paul Ebeling

Paul A. Ebeling, a polymath, excels, in diverse fields of knowledge Including Pattern Recognition Analysis in Equities, Commodities and Foreign Exchange, and he it the author of "The Red Roadmaster's Technical Report on the US Major Market Indices, a highly regarded, weekly financial market commentary. He is a philosopher, issuing insights on a wide range of subjects to over a million cohorts. An international audience of opinion makers, business leaders, and global organizations recognize Ebeling as an expert.