USA CB Consumer Confidence For August 103.3 Vs 100.9 Est. 100.3 Prior (Revised To 101.9)
Portfolio Pulse from Benzinga Newsdesk
The USA Consumer Confidence Index for August was reported at 103.3, surpassing the estimated 100.9 and the revised prior figure of 101.9. This indicates a stronger consumer sentiment than anticipated.
August 27, 2024 | 2:00 pm
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POSITIVE IMPACT
The SPDR S&P 500 ETF (SPY) may experience a positive impact due to the higher-than-expected Consumer Confidence Index, suggesting stronger consumer sentiment and potential economic growth.
The Consumer Confidence Index is a key economic indicator that reflects consumer sentiment. A higher-than-expected index suggests that consumers are more optimistic about the economy, which can lead to increased consumer spending. This optimism can positively affect the stock market, including broad market ETFs like SPY, as it suggests potential economic growth.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70