Consumer Confidence a Big Miss

Moments ago, the Conference Board reported its Consumer Confidence Index for this month and the results were startling. As analysts predicted a rise to 90 from an upwardly revised 86.3, this month’s index actually moved to 101.8. The Present Situation sub-index also made significant headway to 98.5 from 85.8 while the Expectations sub-index made an even greater gain to 104 from 86.6. As positive as this report was, markets are little changed so far.