Wednesday’s Midday Movers: 3 Stories Driving Markets
The major U.S. markets were gaining again Wednesday. As of noon:
|DIJA: +0.75% to 14,945.83||S&P 500: +0.89% to 1,654.37||NASDAQ: +1% to 3,648.87|
|Gold: +0.14% to 79.17||Oil: -0.9% to 25.41||U.S. 10-Year: +0.53% to 28.63|
Here are three stories helping shape the market Wednesday afternoon.
1. Economic Confidence: Americans Expect Worse to Come: Economic confidence in the United States continued to decline in August, according to Gallup’s Economic Confidence Index. The index averaged -13 in August, down from -12 in July, indicating once again that Americans remain more negative than positive about overall economic conditions.
Gallup began tracking consumer confidence daily in 2008, as the financial crisis was reaching its climax. The first reading was -32, well below the breakeven level at 0. From there, economic confidence hit record low of -60 shortly before the end of 2009, before stabilizing in a range between -21 and -35 for about two years. Confidence soured again in mid-2011, hitting a low of -52, but quickly stabilized to its previous, only modestly pessimistic range… (Read more.)