On Thursday, the stock market showed varying trends. While the S&P 500 index started trading with a slight increase of 0.03 percent, the Nasdaq Composite, which focuses more on technology, was down by 0.05 percent. The Dow Jones was down by 0.08 percent. Despite these fluctuations, consumer and investor confidence remain strong in the United States.
The Michigan confidence index scored 79.4 in March, surpassing economists’ estimates of 76.5 from February. This is the highest reading since July 2021. Additionally, the AA II survey indicated that half of the respondents hold a positive view of the stock market’s development in the next six months, close to the 12-month highs for the year where 53 percent of respondents were optimistic, compared to the historical average of 38 percent.
However, there were some negative indicators as well. Pending housing transactions in the USA grew by only 1.6 percent in February from January. Furthermore, the US Chicago purchasing managers’ index fell short of expectations in March, scoring just 41.4 instead of the estimated 46
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