Here comes consumer confidence ...

At 10 a.m. ET, a preliminary reading on consumer confidence in December from the University of Michigan’s survey of consumers will be released.

Economists estimate that the headline index of consumer sentiment rose to 92 from 91.3 prior.

Wells Fargo’s Sam Bullard wrote in a client preview: “With gasoline prices continuing to fall, the S&P 500 edging higher and an improving labour market, expectations are for a modest increase in the December reading of the University of Michigan’s consumer sentiment index. If realised, it would mark the third straight monthly increase in confidence, but would also remain below the YTD average.”

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