Today, the private research group The Conference Board is expected to release its latest report on consumer confidence. Ahead of the 10 a.m. EDT release, many economists and traders are expecting to see an uptick in the number, from the previous mark of 60.6.
In early reports from overseas trading, the expectation of higher US Consumer Confidence has cause natural gas, heating oil, and wholesale gasoline prices to rise.
The consumer confidence number is important to economists, investors, and traders because consumer spending – which includes major purchases and health care – comprises approximately 70% of the US economic activity.
Details of the report will be made available here on Conservative Daily News once they are released.