The huge week for economic news in the US got started on the right foot with today's release of Consumer Confidence

Jay Soloff

Argonath Financial

The huge week for economic news in the US got started on the right foot with today's release of Consumer Confidence. Economists were expecting the reading to come in at 85.4, roughly in line with June's 86.4 The actual number was a substantially higher 90.9. It's the first time the reading has been this high since October of 2007 and the biggest upside surprise since June of last year. Keep in mind, the historical average for this index is 93.4, dating back to 1967. As such, Americans' confidence is still below average. Nevertheless, the big jump in July is an excellent sign. One more good month and the index will be above average for the first time since the Financial Crisis of 2008 and ensuing recession. Let's see how the rest of the data play out. (VIEW LINK)


Jay Soloff
Research Analyst
Argonath Financial

I'm an investments analyst for a US-based independent investment research firm. My focus is on economics, options, and all types of stocks, but especially tech, Internet, and renewable energy companies. I have experience as a options market...

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