Mixed Stock Market Results, But Strong Consumer Confidence Boosts US Economy

On Thursday, the main stock indices saw mixed results. While US retail investors have a positive outlook with sentiment at near 12-month highs, the S&P 500 index was up only 0.03 percent after trading began, while the Nasdaq Composite was down 0.05 percent and the Dow Jones fell by 0.08 percent.

Despite these inconsistent results, consumer confidence in the United States is strong. The Michigan confidence index scored 79.4 in March, surpassing economists’ estimates and marking the highest reading since July 2021. Investor confidence has also improved, with half of respondents in a recent survey expressing optimism about the stock market’s development over the next six months.

The housing market is showing signs of growth as well, with pending housing transactions increasing by 1.6 percent in February compared to January. However, there was a negative indicator for consumer confidence as Chicago purchasing managers’ index fell below expectations, scoring only 41.4 in March. Nonetheless, there are positive indicators for both US consumer and investor confidence moving forward