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UMichigan Consumer Confidence Prints At 71.5, Misses Expectations Of A Rebound from 71.8 To 72.0

Tyler Durden's picture




 

In true bizarro fashion, the latest catalyst for the stock jump is the latest miss in UMichigan consumer confidence, which missed expectations of a rebound from May's 71.8 to 72.0, instead printing at 71.5, dashing our hopes that there would be more BS-base baffling. In doing so, UMich has confirmed the Conference Board's indication that consumers are now less confident, despite a substantial drop in gas prices in the last month (a decline which has now been largely reversed). More importantly, 5 year inflation expectations continue to be firmly lodged in and came unchanged from last month at 3.0%. 1 year inflation expectations however did drop from 4.0% to 3.8%, a number which will likely reverse if gas prices continue trending straight up. And now, all eyes on the ISM.

 

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Fri, 07/01/2011 - 09:59 | 1418595 Cognitive Dissonance
Cognitive Dissonance's picture

It's all good dude. If the UM beats then stocks are up on a strong recovery. If it's down, stocks are up on the impending QE 3.X

I love the smell of market insanity in the morning.

Fri, 07/01/2011 - 10:07 | 1418616 Cdad
Cdad's picture

Top.

Nanex will again confirm that ISM was front run...by one minute.

Fri, 07/01/2011 - 10:06 | 1418608 trampstamp
trampstamp's picture

amazing! When are we going to march to Wall Street and beat these guys! Pure manipulation. I'm in!

Fri, 07/01/2011 - 10:03 | 1418610 alien-IQ
alien-IQ's picture

and just like that..the /ES explodes for an instantaneous 10 point pop....because????...we roll like dat????

Fri, 07/01/2011 - 10:02 | 1418613 firstdivision
firstdivision's picture

ISM seemed to be a bit of an odd outlier.  Usually strong correlation to regional info. 

Fri, 07/01/2011 - 10:04 | 1418626 bigking12345
bigking12345's picture

they trade ahead of the number by 5 seconds and run it up 7 handles in seconds.

Fri, 07/01/2011 - 10:16 | 1418696 EB
EB's picture

Anyone else notice that Barrons reported ISM as 71.5 (the Consumer Sentiment #) at 10:00 am?  It's been subsequently corrected.

Fri, 07/01/2011 - 10:37 | 1418788 dwdollar
dwdollar's picture

How is anyone in the bottom 95 percentile confident?  Where do they find these people?  The geriatric ward?  I'm thinking Alzheimer patients who believe Kennedy is still president.

It's a nightmare out there to anyone of clear mind and not on a drug (either prescription or street).  This whole thing is like the f******g Twilight Zone.  Thank God for places like Zerohedge.

Fri, 07/01/2011 - 12:36 | 1419263 TheMerryPrankster
TheMerryPrankster's picture

Spoken like someone who has at least momentarily pierced the veil of bullshit and seen the true reality exposed. Careful don't gaze too long or spontanteous brain freeze can be invoked as a damage limiting response.

Here's someone else who is wondering just WTF is going on in this PonziWorld we've invested our lives in.

"What we have found is that the underlying financing mechanisms of the suburban era -- our post-World War II pattern of development -- operates like a classic Ponzi scheme, with ever-increasing rates of growth necessary to sustain long-term liabilities."

entire article at:

http://www.grist.org/sprawl/2011-06-22-the-american-suburbs-are-a-giant-...

 

The American suburbs are a giant Ponzi scheme

 

Fri, 07/01/2011 - 11:28 | 1418985 PulauHantu29
PulauHantu29's picture

Aggregate demand is falling off a cliff with consumer spending + capital spending plunging. Add to that our trade deficit and won't it take over $10 Trillions of Gubberment spending just to keep the AD steady.

GL!

Fri, 07/01/2011 - 11:39 | 1419043 toady
toady's picture

Everybody get out there and shop or the terrorists win!

Fri, 07/01/2011 - 12:55 | 1419346 TheMerryPrankster
TheMerryPrankster's picture

The terrorist wear suits and sit on the boards of major corporations and banks. They are the Federal Reserve and Goldman Sachs. They have replaced bombs with CDO's and leverage. They don't bother with blowing up a bus stop or a train station, they nuke entire countries like Greece or the USA.

The terrorist have one hand on your wallet and the other holding an economic gun to your head, either way you die in an economy that only recognizes money as legitimacy. The poor don't exist, except to the extent that they can be exploited. Welcome to the ownership society are you an owner or the owned?

We need another 300$ government rebate check to prime the pump, the malls are being entombed by spiders, the dust grows ever deeper on last months "must haves" leaving no room on the shelf for this months "must haves". The wheels of the economy screech like a train stopping on a dry track. The steam clouds evaporate leaving us looking at a train wreck and wondering why no one is in charge?

Who really cares if any of us lives or dies? The answer is in the mirror, and that my friend is who is in charge. That face that looks back at us is our answer, our future and our only way ahead, the only tool we have to stop this madness and turn this world around.

It's a million ants building an anthill without a plan, only desire. First we have to destroy the predatory ants that keep trying to eat us.

Fri, 07/01/2011 - 20:36 | 1420576 taca
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