The Conference Board’s Consumer Confidence Index (CCI) rose 0.6 points to 92.8 in April, while March’s reading was revised to 92.2 from 91.8. The survey was conducted between April 1 and 22, a period that saw the U.S. reach a ceasefire with Iran, resulting in higher stock prices.
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Forget margin or options. Here's how the pros trade QQQThe growth was driven by slight improvements in labor market sentiment and income expectations, partially offset by less favorable expectations of current and future business conditions.
Gas Prices Surge as Recession Fears Rise
However, rising gas prices remain a major concern among consumers. Since the start of the war on February 28, the average price for a gallon of gas in the U.S. has surged 39%, or $1.17, to $4.17. In addition, the share of consumers who believe a recession in the next 12 months is “very likely” increased, as did the share who think the U.S. is already in a recession.
The Conference Board’s index contrasts with the University of Michigan’s Index of Consumer Sentiment, which fell to a record low of 49.8 this month.