Ticker | Status | Jurisdiction | Filing Date | CP Start | CP End | CP Loss | Deadline |
---|
Ticker | Case Name | Status | CP Start | CP End | Deadline | Settlement Amt |
---|
Ticker | Name | Date | Analyst Firm | Up/Down | Target ($) | Rating Change | Rating Current |
---|
Preliminary estimates from the University of Michigan revealed that U.S. consumer confidence has declined more rapidly than anticipated in July, hitting its lowest level since November 2023.
The survey also indicated that inflation expectations have slightly eased, implying that the drop in consumer sentiment is beginning to impact demand and exert downward pressure on prices.
"Although sentiment is more than 30% above the trough from June 2022, it remains stubbornly subdued. Nearly half of consumers still object to the impact of high prices, even as they expect inflation to continue moderating in the years ahead," said the University of Michigan's Surveys of Consumers Director Joanne Hsu.
Consumers sense significant uncertainty regarding the economy’s direction, although there is little evidence to suggest the first presidential debate influenced their economic perspectives, she said.
Wall Street hovered in the green Friday, with all major indices showing gains by 10:10 a.m. in New York.
The S&P 500, as tracked by the SPDR S&P 500 ETF Trust (NYSE:SPY) was 0.6% higher, while small caps, monitored through the iShares Russell 2000 ETF (NYSE:IWM), outperformed larger caps, up 1.5%.
Sector-wise, tech rebounded after Thursday’s sell off, with the Technology Select Sector SDPR Fund (NYSE:XLE) up almost 1%.
Read Now:
Photo via Shutterstock.