Dow Jones Gyrates at New High as Consumer Confidence Misses

Consumer Confidence– Talking Points

  • Consumer Confidence declines to 125.5 in November, while expectations for the economy rose on a more upbeat outlook
  • Consumers confidence remains relatively high compared to historical norms and the survey suggest consumers have a willingness to spend this holiday season
  • Outlook on labor market conditions were mixed, with expectations for more jobs in coming months decreased to 15.7% from 16.9%

Markets remain largely unchanged on the Conference Board’s Consumer Confidence Survey showing a fourth consecutive drawdown for the index. While consumer confidence declined for the fourth month, short term expectations for the economy ticked up to 97.9 from 94.9 as consumers are slightly more upbeat about the economy over the next six months. The Dow Jones was largely unchanged as it reaches new highs.

Dow Jones Price Chart – 5 Minute Time Frame

**Story still developing – Check back for updates**

–Written by Thomas Westwater, Intern Analyst for DailyFX.com

Contact and follow Thomas on Twitter @FxWestwater

DailyFX forecasts on a variety of currencies such as the US Dollar or the Euro are available from the DailyFX Trading Guides page. If you’re looking to improve your trading approach, check out Traits of Successful Traders. And if you’re looking for an introductory primer to the Forex market, check out our New to FX Guide.

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