MSI: Consumer Sentiment At 5 Month Lows

MSI: Consumer Sentiment At 5 Month Lows

$DIA, $SPY, $QQQ, $VXX

US consumer confidence declines last month to lowest level since October as Americans worried the country’s economic outlook, the University of Michigan’s MSI says.

The University’s index of consumer sentiment (MSI) dipped to 91 in March from 91.7 in February.

Richard Curtin, chief economist of the Michigan survey, said consumers’ dim view of the economy offset improvement in their own finances.

Last month’s reading was the lowest since the index registered 90 October. A year earlier, it stood at 93.

Signs of economic weakness and rising Gasoline prices have taken a toll on consumers’ spirits.

AAA says the average gallon of US Gasoline at the pump costs 2.06, up from 1.76 a month ago.

Americans have grown cautious about spending. Consumer spending barely grew in December, January and February.

The US unemployment rate ticked up.

The labor force participation rate has slowly increased and the labor force is rising. People are a bit more confident they can get a job in this economy, thought many cannot. Some firms paid up a little more in March, wage gains are not accelerating much at all.

Friday, US major stock market indexes finished at: DJIA +107.66 at 17792.75, NAS Comp +44.69 at 4914.54, S&P 500 +13.04 at 2072.78

Volume: Trade was moderate with about 970-M/shares exchanged on the NYSE

• NAS Comp -1.8% YTD
• Russell 2000 -1.6% YTD
• S&P 500 +1.4% YTD
• DJIA+2.1% YTD

Have a terrific weekend.

Paul Ebeling

HeffX-LTN

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