The market’s trading has been boring and listless of late, despite expectations for end-of-the-quarter window dressing and other games.
But after rising a bit early on, stocks are now getting slammed following news that the consumer, after taking some Prozac last month, ran out of their prescription.
Reuters: The Conference Board, an industry group, said on Tuesday its index of consumer attitudes dropped to 49.3 from 54.8 in May. The Present Situation Index slid to 24.8 from 29.7.
Americans saying jobs are “hard to get” increased to 44.8 per cent from 43.9 per cent the previous month, while those saying jobs are “plentiful” slid to 4.5 per cent from May’s 5.8 per cent.
The Dow is off over 100 and all the major indices are down over 1%.
Even if Americans were feeling wealthy, they’d be home saving it, like the family in the picture, all watching TV on and on couch, eating popcorn. Very sad.
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