UPDATE:It’s a miss!
Analysts expected consumer confidence to go from 75.3 last month to 76.0 this month.
But instead it actually dropped to 76.0.
There was a big jump in inflation expectations, which is interesting, and not all that surprising given the jump in gas prices and whatnot.
It is a bit inconsistent with other readings, which have showed confidence rising week after week.
Markets remain basically flat… just a tick to the downside.
The last big datapoint of the day: The University of Michigan Consumer Confidence Index is revealed at 9:55 AM ET.
Analysts are looking for a reading of 76.0, up a bit from 75.3.
Mostly consumer confidence surveys have been looking very good, and it’s hard to detect a big sentiment impact from gas prices. We’ll be on the look out for that.