US Consumer Confidence Rises to 92.8 Despite Gas Prices
US consumer confidence rose to 92.8 in April as a ceasefire boosted stocks. While labor views improved, high gas prices continue to weigh on spending plans.
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The United States consumer confidence index rose 0.6 points to 92.8 in April, beating economist forecasts of 89.0. The index reached a four-month high after a ceasefire between Iran and Israel boosted equity markets. Investors are weighing this optimism against $4 gasoline prices and 5.1% inflation expectations that could curb discretionary spending.
The Conference Board reported Tuesday that the labor market differential rose to 7.5% from 6.1% in March. This improvement reflects a drop in consumers who find employment hard to get, even as the unemployment rate fell to 4.3%.
