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3 Comments

  1. Carol May 28, 2009 @ 4:43 pm

    I too don’t really feel a boost in my confidence as a consumer. I can see it around me though. More and more of my friends and family are starting to buy things more freely. I’m not sure why either. Many of them aren’t in a place any more secure than they were a couple of months ago, but at least it’s good news I guess…

  2. Melissa May 28, 2009 @ 4:45 pm

    I wonder if this is just people finally going crazy. I think it could just be that people in the country aren’t use to staying on a budget or keeping money tight and they have been forced to for so long they finally snapped. It’s kind of like when you are on a diet that is too strict. You snap and eat tons of junk and then try to get back on track.

  3. Renee May 28, 2009 @ 4:47 pm

    I think that this is awesome news. My job wasn’t really ever on the line, but I notice a big change in people’s attitudes these days. It makes me happy that more and more people are finally getting the confidence to loosen up a little bit. It seemed like the entire country was so uptight for a while there.

Consumer confidence boost

Stock Market Comments (3)

We all need a little confidence boost from time to time. This next one is WAY overdue.

According to the Alternative Press, the Consumer Confidence Index received a lofty boost of 40.8 to 54.9 this month. This may come as a surprise for consumers and investors alike since unemployment levels aren’t getting any better. Economists had estimated that in May, the Consumer Confidence Index would be at 42.3.

Even if your consumer confidence hasn’t gotten a boost yet, this just might do it. With this increase in levels, the stock market is also reaping benefits. On Tuesday, the Dow Jones rose 2 percent, the Standard & Poor rose 1.9 percent and the Nasdaq composite index rose 2.6 percent, according to the AP.

Stocks like Macy’s and Best Buy rose because of the consumer confidence boost as did home builder stocks like KB Homes. Does this mean that we can see an decrease in prices? Well, no, probably not, but it might mean you should start thinking about trading, that is, if you remember how to play the stock market.

Chief market strategist at Weeden & Co., Steven Goldman, told the AP that the market is likely to stay impulsive over the next few weeks. (Now there’s a surprise!)

Hopefully, this flicker of confidence isn’t just a tease. The AP also reported that for every seven stocks that rose, six fell on the New York Mercantile Exchange.

Is this something to even get excited about? Maybe. Do you think we should expect a higher increase in consumer confidence? I know that I can say for myself that my personal consumer confidence has seen no boost. inn fact, I would say that mine is decreasing. Hopefully there will be a reason to change that. Time will tell.

andrea @ May 28, 2009

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