• Knave Dave
    05/23/2016 - 18:16
    This past Thursday marked the one-year anniversary of the US stock market’s death when stocks saw their last high. Market bulls have spent a year looking like the walking dead. They’ve...

Consumer Confidence Plummets To Nine Month Low, Biggest Miss To Consensus On Record

Tyler Durden's picture




 

Well if this doesn't send the market into all-time record high territory, nothing ever will: seconds ago the UMich Consumer Confidence plummeted from 78.6 to 72.3, on expectations of an unchanged 78.6 print. This was not only a 9 month low in the index, but more importantly the biggest miss to expectations in recorded history! Both conditions (84.8, Exp 89.5, Last 90.7) and expectations (64.2, Exp.70.0, Last 70.8), imploded, with the current conditions number the worst print since July and posting the biggest drop since August 2011. Surely if retail sales was not a sufficient Conviction Buy signal for the Fed, then Consumer Confidence should send Kevin Henry, who is now mainlining a trail mix cocktail of Redbull, Caffeine and Meth, into F5 overdrive. And if that doesn't do it, the final economic miss of the day, Business Inventories which also missed expectations of a 0.4% print, and dropped from 0.9% to 0.1%, the lowest since September 2011 and biggest miss since September 2012, should certainly cement today's 1600+ S&P close.

 

 

with current economic assessment terrible..

 

and add to that Business Inevntories miss and all things considered - another terrible data day.

 

Charts: Bloomberg

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Fri, 04/12/2013 - 10:05 | 3440514 SeverinSlade
SeverinSlade's picture

Chuck Norris to replace Ben Bernanke as Fed Chairman?  Talk about confidence!

Fri, 04/12/2013 - 10:10 | 3440531 CH1
CH1's picture

BULLISH!

S&P 10,000!

Fri, 04/12/2013 - 10:11 | 3440543 Bearwagon
Bearwagon's picture

BULLSHIT!

S&P 1000000000000!

Fri, 04/12/2013 - 10:15 | 3440580 toys for tits
toys for tits's picture

The confidence plumetted because the students taking the survey were gloomy from the BitTheDustCoin crash.

Fri, 04/12/2013 - 10:17 | 3440598 azzhatter
azzhatter's picture

Were the Winklevei included in this survey?

Fri, 04/12/2013 - 10:17 | 3440599 aint no fortuna...
aint no fortunate son's picture

market surges on the news

Fri, 04/12/2013 - 10:23 | 3440631 Bearwagon
Bearwagon's picture

Did you expect anything else?

Fri, 04/12/2013 - 10:32 | 3440671 Richard Chesler
Richard Chesler's picture

Fuck you Obozo!

 

Fri, 04/12/2013 - 10:11 | 3440545 TeamDepends
TeamDepends's picture

UMICH is just upset they took Albrecht out and lost the game.

Fri, 04/12/2013 - 10:15 | 3440584 BandGap
BandGap's picture

It was past his bedtime.

Fri, 04/12/2013 - 11:29 | 3441092 MilwaukeeMark
MilwaukeeMark's picture

S&P 10000
McDonald's $1 menu = $20

Fri, 04/12/2013 - 12:07 | 3441325 rotagen
rotagen's picture

Everything will work out fine, somehow the Sandy Hook actors will take care of this.

Fri, 04/12/2013 - 10:07 | 3440515 BandGap
BandGap's picture

We're setting records all over the place!

Fucking-A, is this a great country or what?

Fri, 04/12/2013 - 10:14 | 3440582 Winston Churchill
Winston Churchill's picture

Was.

Fri, 04/12/2013 - 10:20 | 3440608 Bearwagon
Bearwagon's picture

Downgrade in sight!

Fri, 04/12/2013 - 10:08 | 3440520 Shizzmoney
Shizzmoney's picture

I'm confident the economy will face plant sooner or later.

Fri, 04/12/2013 - 10:15 | 3440576 BandGap
BandGap's picture

On a long enough timeline everything gets planted.

Fri, 04/12/2013 - 10:18 | 3440600 MiltonFriedmans...
MiltonFriedmansNightmare's picture

We are currently in a depression which has been papered over with government transfer payments.  In a word, nothing matters. I guess you can call be a nihilist, and I can tell you this, it's fucking exhausting.

Fri, 04/12/2013 - 10:09 | 3440526 AnticipatedResponse
AnticipatedResponse's picture

BULLISH!!!!!!!!!!!

Fri, 04/12/2013 - 10:09 | 3440527 HulkHogan
HulkHogan's picture

It has been a long, shitty winter that won't end.

Fri, 04/12/2013 - 10:14 | 3440568 BandGap
BandGap's picture

Amen, brother!

Fri, 04/12/2013 - 11:27 | 3441079 Doyle Hargraves
Doyle Hargraves's picture

Soon to be 'nuclear winter'?

Fri, 04/12/2013 - 10:09 | 3440529 spinone
spinone's picture

If the economy improves, the banks stop getting free money from the Fed. 

Do you think they are going to lift one finger to do anything that improves the economy?  The longer this grinds out, the more free money they get.

Fri, 04/12/2013 - 10:10 | 3440542 CH1
CH1's picture

The banks ARE the Fed.

At least the big ones are.

Fri, 04/12/2013 - 10:09 | 3440530 HD
HD's picture

Consumer confidence only matters when it positive. A dismissed when negative.  Nothing new under the sun today.

 

Fri, 04/12/2013 - 10:10 | 3440532 Bearwagon
Bearwagon's picture

There breaks the consumer's back. We shouldn't have talked about it ...

Fri, 04/12/2013 - 10:11 | 3440537 PUD
PUD's picture

BEST SARCASTIC POST EVER. SHOULD I BUY CALLS NOW OR IN AN HOUR? SARC OFF

Fri, 04/12/2013 - 10:09 | 3440539 Headbanger
Headbanger's picture

Just makes me want to get up and buy, buy, buy!!

More guns & ammo, if I can find any.

Fri, 04/12/2013 - 10:21 | 3440615 BandGap
BandGap's picture

You can at Gunbot.com

Fucking 22LR at 3-5X the price it was a year ago. 9mm has at least doubled, too.

Fri, 04/12/2013 - 10:28 | 3440647 Osmium
Osmium's picture

I was shocked to find .223 and 5.56 in stock at my local store.  2 box limit, but I can go back everyday until they are sold out.

Fri, 04/12/2013 - 10:33 | 3440691 Winston Churchill
Winston Churchill's picture

Only stuff I can find is with berdian primer.No limit purchase.

Not reloadable.

Fri, 04/12/2013 - 10:12 | 3440548 I Am Not a Copp...
I Am Not a Copper Top's picture

There's a serial junker on the loose

 

Edit:  And I preemptively junked myself so fuck you whoever you are

Fri, 04/12/2013 - 10:13 | 3440569 Bearwagon
Bearwagon's picture

He's on a run today ... all day long ... hope he at least gets a decent pay

Fri, 04/12/2013 - 10:34 | 3440699 Winston Churchill
Winston Churchill's picture

Prolly a bot.

Fri, 04/12/2013 - 10:25 | 3440637 MiltonFriedmans...
MiltonFriedmansNightmare's picture

I've noticed, undoubtedly a red team/blue team devotee.

Fri, 04/12/2013 - 10:34 | 3440697 BandGap
BandGap's picture

I junked you because you acknowledged the obvious. And it's a pissed off FRIDAY, man.

 

Whose the blonde chick hawking t-shirts on this page?

Fri, 04/12/2013 - 11:50 | 3441191 LuckoftheIrish
LuckoftheIrish's picture

That's why I quit HuffPo, besides the abominable content.

Fri, 04/12/2013 - 10:13 | 3440551 Racer
Racer's picture

In the old days this would have sent the Dowplunging 200 points... but it has instead been bounced up by the HFTs... so much for a 'market' that this is for the 0.1%

Fri, 04/12/2013 - 10:14 | 3440553 e m m
e m m's picture

Just look at this number: 14833.

Fri, 04/12/2013 - 10:23 | 3440622 e m m
e m m's picture

OMG they're such bad boys and bought the dip again. That was super desctructive after the NFP and they're showing us again they're completely feeling the stubbornness of this badass market. Totally rad.

Fri, 04/12/2013 - 10:12 | 3440555 TuesdayBen
TuesdayBen's picture

Consumer confidence?

I am confident that more credit card offers are headed the consumers' way.  More credit-fueled spending ahead.

Fri, 04/12/2013 - 10:31 | 3440668 toady
toady's picture

I actually received a couple of mortgage letters this month, along with the four or five pre qualified CC's.

I guess all the quality debt slave are used up...

Fri, 04/12/2013 - 10:33 | 3440690 TuesdayBen
TuesdayBen's picture

I average around 1 snail-mail debt offer per day. 

The appetite of the enslavers remains rapacious.

Fri, 04/12/2013 - 10:38 | 3440712 MilleniumJane
MilleniumJane's picture

Yep, my husband and I have been getting them regularly every two weeks since last Christmas.  CapitalOne, Visa, MasterCard, AmericanExpress...all get "filed" in our woodstove.

Fri, 04/12/2013 - 10:59 | 3440853 toady
toady's picture

We do the same with the CC offers, but when the wife saw the home equity offers I could see the gears starting to turn behind her eyes ... I hope she doesn't bring up a big, expensive vacation in the next few weeks!

Fri, 04/12/2013 - 12:30 | 3441481 therearetoomany...
therearetoomanyidiots's picture

They must think we're stupid

Fri, 04/12/2013 - 10:13 | 3440557 HD
HD's picture

Look everyone got a free -1  Krugman's here!

Fri, 04/12/2013 - 10:14 | 3440564 Confundido
Confundido's picture

Things look shity = deflation = gold down

Things look bright = no QE = gold down

Things look so-so = look for yield = gold has none = gold down

No news = why hold gold = gold down

No fundamentals = technicals are valid = chart looks ugly = gold down

not convinced? = Soros sells gold = gold down

 

Fri, 04/12/2013 - 10:15 | 3440579 Bearwagon
Bearwagon's picture

It all comes crumbling down = gold up through the roof

Fri, 04/12/2013 - 10:18 | 3440609 Confundido
Confundido's picture

You will have drowned by then.

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