Driven in part by the ongoing strength in the labor market, consumer confidence hit an 18-year high in September. On Tuesday, market participants will learn if consumer confidence got dialed down a notch in October when the Conference Board's Consumer Confidence report is released.
Consumer Confidence Report for October (Tuesday, October 30, at 10:00 a.m. ET)
- Why it's important
- It offers a gauge of consumer attitudes oriented primarily around their view of the labor market.
- It's a more current indicator in that it covers the month in which the report is released.
- Rising levels of consumer confidence sustained for an extended period of time can translate into stronger spending activity. It is worth noting that income growth, however, is the key driver of spending activity.
- With increased trade tension, and the stock market sell-off in October, there is added interest in seeing if there has been any impact on consumer confidence.
- A closer look
- The Consumer Confidence Index increased to 138.4 in September from 134.7 in August, marking the highest reading since September 2000.
- The Briefing.com consensus estimate for October is 135.8.
- What's in play?
- Consumer Discretionary Select Sector SPDR (XLY)
- Consumer Staples Select Sector SPDR (XLP)
- Index ETFs
- SPDR S&P 500 ETF (SPY)
- Invesco QQQ Trust (QQQ)
- SPDR Dow Jones Industrial Average ETF (DIA)
- iShares Russell 2000 (IWM)
- Treasuries
- Currencies
- EUR/USD
- USD/JPY