The major US news for today was the Consumer Sentiment report which was released at 10:00 am ET. Basically, consumer sentiment is a survey given out by the University of Michigan that asks participants about their view towards the economy. This report attempts to gauge how optimistic the consumers are in hopes that it will have some predictive value in determining the future of consumer related reports, such as consumer spending and retail sales.
Here were today’s results from the Consumer Sentiment report:
The report basically tells us that consumers are pretty optimistic at this point about the economy. With oil still dropping and gas prices staying put, we may see this report stay positive for the next month or two.