Current conditions 113.1 versus 114.4 preliminary
- Michigan consumer sentiment 98.6 versus 99.0 estimate and 99.0 preliminary
- current conditions 113.1 versus 114.4 preliminary
- expectations 89.3 versus 89.1 preliminary
- one-year inflation 2.9% versus 2.8% preliminary
- 5 – 10 year inflation 2.4% versus 2.3% preliminary
Despite the client confidence remains near a 14 year high.
- Consumers expect the economy will produce strong job growth in the year ahead even if wage gains are tepid
- near-term increases in inflation were expected to be temporary
- uncertainty about the trade war will affect American businesses
- Recent stock market gyrations could weigh on consumer sentiment
- index of buying conditions for durables fell to 163 from 164 (preliminary 166)
The stocks are not taking it well despite still being near 14 year high. The Nasdaq is down -201 points or 2.8%. The S&P is down -62 points. Both are trading at the lows.
The USDJPY is making new lows as well and looks to test the 100 day MA at 111.547