Consumer sentiment is seen falling short for U.S. stocks
Here’s my chart for today. I’ll talk about it shortly after 3:30 p.m. Eastern (12:30 p.m. Pacific) on the Bloomberg Businessweek radio show. Also, I’ll present my Stock of the Day just after 4:15 p.m. (1:15 p.m.) on social media. You can hear me on Bloomberg Radio or see me at Bloomberg Global News on YouTube.
U.S. households lack the kind of confidence that usually goes along with higher stock prices, according to Morgan Stanley Wealth Management. The firm drew the conclusion in a report Monday after comparing 12-month changes in the Conference Board’s consumer confidence index and the S&P 500 Index. “If consumer sentiment doesn’t quickly improve, it could be a signal of market weakness” as people choose to spend less and save more, the firm wrote.