Article by ForexTime
The S&P remains at record highs after hitting a new record high above 2000 on Tuesday following upbeat US data signalled that the economy was on track to a steady recovery.
Consumer confidence numbers from the US Conference Board showed that confidence has now increased for four straight months and American consumers were positive about the short-term outlooks for the economy and labor market.
The CB Consumer Confidence index rose to 92.4 in August, the highest level since October 2007, from a revised 90.3 in July. This was contrary to forecasts for the index to pull back to 88.5 from an originally reported 90.9 in July.
Meanwhile, before the Consumer Confidence data, US durable goods data were released showing a new record high in July.
Orders for long-lasting manufactured goods rose by a record 22.6% in July. The main catalyst behind the increase was an increase in aircraft orders by Boeing. The July figure smashed forecasts for an increase of 12.6%. However, orders excluding the transportation dipped 0.8% amid widespread weakness.
Article by ForexTime
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