CB Consumer Confidence Drops To 104.7; SP500 Tests Session Lows

Key Points:

• CB Consumer Confidence declined from 111.7 to 104.7, missing analyst expectations.

• New Home Sales increased by 5.9% month-over-month in November.

• U.S. Dollar Index tested session highs after the release of the report. ### In this article:

• Gold

-0.42%

• US SPX 500

-0.71% On December 23, 2024, The Conference Board released CB Consumer Confidence report for December. The report indicated that CB Consumer Confidence declined from 111.7 in November to 104.7 in December, compared to analyst forecast of 113.

More information in our economic calendar The Present Situation Index declined to 140.2 in December, while the Expectations Index fell to 81.1.

The Conference Board commented: “While weaker consumer assessments of the present situation and expectations contributed to the decline, the expectations component saw the sharpest drop.”

Today, traders also had a chance to take a look at the New Home Sales report for November. The report showed that New Home Sales increased by 5.9% month-over-month, compared to analyst consensus of +8.2%.

U.S. Dollar Index tested session highs as traders reacted to the CB Consumer Confidence report. Currently, U.S. Dollar Index is trying to settle above the 108.20 level.

Gold pulled back towards the $2610 level as traders focused on strong U.S. dollar. Rising Treasury yields put additional pressure on gold markets.

SP500 tested session lows after the release of the weaker-than-expected consumer confidence data. SP500 made an attempt to settle below the support at 5920 but did not manage to develop sufficient downside momentum and rebounded above the 5930 level.

For a look at all of today’s economic events, check out our economic calendar.

About the Author

Vladimir ZernovauthorFollowVladimir is an independent trader and analyst with over 10 years of experience in the financial markets. He is a specialist in stocks, futures, Forex, indices, and commodities areas using long-term positional trading and swing trading.

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