Consumers Love Slumping Stocks - Confidence Jumps To 8 Month Highs

Tyler Durden's picture

University of Michgan Consumer Confidence soared to 8 month highs, beating expectations by the most since November led by a surge in "outlook" hope. Current conditions are back at December 2013 highs but it is the outlook that is providing the juice for this exuberant headline print. Bear in mind this is the preliminary print of this data and is due for revision in the next 2 weeks or so... which as 'consumers' see the red flashing tickers on their iPhones will be slightly less exuberant.

Yay...

 

We suspect this will be revised lower...

 

Charts: Bloomberg

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Bill of Rights's picture

Retail sales on monday will confimr this number....or not.

Battleaxe's picture

I'm confident that we're headed for an epic royal CLUSTERFUCK!!!!!!!!!!

HardAssets's picture

What 'consumers' do they survey ?

Crack addicts ?

new game's picture

confidence by an average clueless msm fed cog dis average merican. ok.

BeerMe's picture

No kidding.  I'm certainly not spending on anything but necessities (e.g. food, energy, roof over head).

Bunga Bunga's picture

You are still very confident.

Cattender's picture

i HOPE the stock market will CRASH!

greyghost's picture

this report only means that the average joe is happy that the fat cats are taking it in the shorts, after years of being told how great their lives are, employed or not, unemployment benefits or not, food stamps or not.

Shad_ow's picture

This report means the average bureaucrat can "cajole" the numbers.

Incubus's picture

the new civil war will between Wall Street and Main Street

 

 

oklaboy's picture

wish they would share what they are smoking......""""""iiiiiiiillllllllllllll

NoDebt's picture

Aren't these studies delayed by a week or two? I mean, they didn't ask those people their opinions last night.

Dr. Engali's picture

Spring is in the air and that miserable winter is behind us.

Winston Churchill's picture

Terrible , I had to wear a sweater on several days when it plunged below 70 down here.

Mi Naem's picture

So, you're in hell?  That's what I thought, Mr. Churchill. 

toady's picture

Hell or Phoenix. Not much difference really.

madbraz's picture

Don't call this UMich, it's reuters consumer confidence.

Reuters=bloomberg=cnbc=jpmorgan=gsachs=nyfed=billdudley=larrysummers=robertrubin=obama's masters

Waterfallsparkles's picture

I think they only poll the Traders on Wall Street.

youngman's picture

Must be all those dollar store employees

Caracalla's picture

According to Bank of America's analyst on Marketwatch, there is too much cash on the sidelines right now for a correction and that any correction we have won't be until the fall.  I guess consumers know this so they are optimistic even in light of the day to day movement in the markets.  Consumers and BOA say BTFD!

starman's picture

Long hope short reality

Obama_4_Dictator's picture

Most Americkans can not even come up with 2,000 dollars.  I have saved over 42k (mostly PM's) and refuse to spend any of it.  You would have to be stupid to be spending freely with the way employers threathen all of us with termination. I have my own buisness because of this.  I have some friends in WI, that live in Oshkosh - Oshkosh Truck just layed off 700....I have another friend in New London who's entire cheese making factory just shut down, one of the towns only emplyers. It's not good folks.  Mass layoffs are coming soon and in fact are already happening.  

starman's picture

O4D you're so on it, massive lay offs is the norm for this year, hedge accordingly!

Perimetr's picture

I  am confident most consumers are poorly educated, uniformed idiots who never question any of the propaganda they are given on a daily basis. 

Mr. Magoo's picture

They forgot to mention its only for the top .001%

yogibear's picture

From now until the November election the consumer will be confident. After that, it's back to the real numbers.

syntaxterror's picture

Is there an economic report out there more useless than this one? A random number generator is more insightful.

whidbey-2's picture

Consumer sentiment is a Concurrent indicator, no or very litte prediction value.  What it means is that someone felt good about things on the day they phoned.  Believed to be politically manipulated.

Look instead at what the consumers, 70% of the economy, was spent on in the last 30 days: Autos, entertainment, housing rentals/mortgages, "free" health care and food. Get ready the opinion leaders who own hedge funds, mutual funds, commodities and IPOs are less sure of the future. In fact, they are selling things.