Newsflash: Nobody Cares About The Consumer Confidence Index


Does the Consumer Sentiment Index actually matter?

Just take a look

This morning’s number sucked, but market is shrugging it off.

Dick’s Sporting Goods (DKS)has seen a significant sales rebound; Abercrombie and Fitch (ANF) has a great long-term outlook and is currently up 7.7%. Macy’s (M) and Sears (SHLD) are also doing well, up 3.3% and 5.6%, respectively.

Even JC Penny (JCP) is killing it, up 7%.

Perhaps Nordstrom would be doing equally well if it could stop selling $50,000 mink coats for two seconds and realise people don’t want to spend that kind of money.

People are obviously spending again, even if they’re not saying so to pollsters.

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