Disappointing Consumer Confidence Comes as no Surprise
Dow Jones
Sep 29
1125 ET - Today's disappointing headline figure for consumer-confidence data shouldn't come as a surprise, eToro's Bret Kenwell says in a note. The Federal Reserve is raising interest rates, gas prices are still high and inflation continues to outpace wage growth, squeezing consumers' spending power, Kenwell says. Sentiment is currently sitting at multi-year lows from persistent inflation and higher costs putting pressure on households, he says. The question now is whether these factors will weigh on consumer spending, Kenwell says.
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