To gain an edge, this is what you need to know now.
Consumer Sentiment Turns Positive
Please click here for a chart of Nasdaq 100 ETF (QQQ).
Note the following:
- The U. S. economy is about 70% consumer based. Therefore it is important to pay attention to consumer sentiment.
- University of Michigan Consumer Sentiment came at 81.4 vs. 75.0 consensus. This is an unexpected development. Due to rising coronavirus cases, the expectation was for the consumer sentiment to become gloomy. It turns out that consumers became happier. The explanation for consumers becoming happier is that their home values are rising fast and millions of them have jumped into the stock market for the first time.