Consumer Inflation Expectations Hold Steady, Credit And Stock Market Outlooks Improve: New York Fed
Portfolio Pulse from Piero Cingari
The New York Fed's latest survey shows stable inflation expectations among U.S. consumers, with optimism in household finances, credit access, and the stock market. Expected price changes for key categories like gas, food, and rent have decreased. Consumers show increased confidence in financial stability and stock market growth, with the SPDR S&P 500 ETF Trust (SPY) reaching record highs. However, there are mixed sentiments about the labor market, with concerns over job security.
February 12, 2024 | 4:55 pm
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POSITIVE IMPACT
The SPDR S&P 500 ETF Trust (SPY) has reached fresh record highs above $5,000, reflecting optimism in the stock market as indicated by the NY Fed survey.
The SPY's record highs are directly linked to the increased optimism about U.S. stock prices over the next 12 months, as reported in the NY Fed survey. This positive sentiment is likely to support short-term upward momentum in SPY's price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90