Market Briefing: Consumer Confidence Numbers Deliver Good Tidings for Financial Markets
In a festive combination, data released yesterday showed US consumers growing less worried about inflation and more optimistic on the economy. In December, the Conference Board’s measure of US consumer confidence climbed to its highest levels since April as income gains continued and price pressures began to ease. The headline index jumped to 108.3 in December from 101.4 in the prior month, supporting hopes for sustained corporate earnings growth. Inflation expectations fell to the lowest levels in a year, reducing some of the impetus behind the Federal Reserve’s tightening campaign. Markets rallied through much of the session, and are only...