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Posts Tagged ‘consumer confidence’

February 24th, 2010

The Markets

(Michael Schwartz) - The Reuters/University of Michigan consumer sentiment preliminary index for February that was reported last week declined slightly from the late January number and it was lower than expected as consumers continued to fret over unemployment. The index is now down 24% from January 2007, according to data from the St. Louis Federal Reserve. Ironically, when consumers are glum, that could be good news for the financial markets.

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September 30th, 2009

Stocks Down On Consumer Confidence

(Lee Siler) - Despite a rise in home prices, stocks sold off yesterday on disappointing consumer confidence news. The S&P Case/Shiller 20-city index showed that home prices rose by 1.2% in July from June. Prices are still down from a year ago to the tune of 13.3%, but it certainly appears the market is starting to stabilize. The concern is when the first time home buyer tax credit incentive expires, demand will wane and so will prices. There is talk that the government may extend the program until sometime next year, but nothing has been set just yet.

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September 28th, 2009

Stocks Try to Rebound

(Lee Siler) - Stocks are looking to trade higher after a week that saw the major averages lose about 2.5%. Housing and manufacturing data pushed stocks lower last week even though we did see some decent jobs numbers.

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August 25th, 2009

Obama Re-Nominates Bernanke

(Lee Siler) - Stock futures jump pre-market as President Obama re-nominates Fed Chairman Ben Bernanke to a second four-year term. Of course, Bernanke's appointment will have to be confirmed by congress, which is a likely scenario. I think it would be disastrous to change the head of the Federal Reserve in the midst of and economic recovery as complicated as this one.

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