Here comes consumer confidence ...

The University of Michigan will release its final survey of consumers for October at 10 a.m. ET.

Economists forecast that the index of consumer sentiment rose to 88.2 from a preliminary reading of 87.9, according to Bloomberg.

The preliminary index fell to the second-lowest level in two years, led by a drop in confidence among households with incomes below $75,000. This was attributed to a uncertainty around the presidential election, especially among lower-income consumers.

“Prospects for renewed gains, other than a relief rally following the election results, would require somewhat larger wage increases and continued job growth as well as the maintenance of low inflation,” the preliminary survey said.

More to come …

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