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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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Fri, 04/11/2014 - 10:07 | 4647235 Bill of Rights
Bill of Rights's picture

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

Fri, 04/11/2014 - 10:20 | 4647303 Battleaxe
Battleaxe's picture

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

Fri, 04/11/2014 - 10:44 | 4647407 HardAssets
HardAssets's picture

What 'consumers' do they survey ?

Crack addicts ?

Fri, 04/11/2014 - 11:04 | 4647490 new game
new game's picture

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

Fri, 04/11/2014 - 11:53 | 4647727 BeerMe
BeerMe's picture

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

Fri, 04/11/2014 - 12:01 | 4647764 Bunga Bunga
Bunga Bunga's picture

You are still very confident.

Fri, 04/11/2014 - 10:07 | 4647241 Cattender
Cattender's picture

i HOPE the stock market will CRASH!

Fri, 04/11/2014 - 10:09 | 4647253 valley chick
valley chick's picture

Patience grasshopper.

Fri, 04/11/2014 - 10:33 | 4647358 greyghost
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.

Fri, 04/11/2014 - 10:43 | 4647405 Shad_ow
Shad_ow's picture

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

Fri, 04/11/2014 - 10:11 | 4647259 Incubus
Incubus's picture

the new civil war will between Wall Street and Main Street

 

 

Fri, 04/11/2014 - 10:12 | 4647266 oklaboy
oklaboy's picture

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

Fri, 04/11/2014 - 10:17 | 4647291 NewAmericaNow
Fri, 04/11/2014 - 10:21 | 4647305 NoDebt
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.

Fri, 04/11/2014 - 10:22 | 4647307 Dr. Engali
Dr. Engali's picture

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

Fri, 04/11/2014 - 10:28 | 4647333 Winston Churchill
Winston Churchill's picture

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

Fri, 04/11/2014 - 10:33 | 4647353 Mi Naem
Mi Naem's picture

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

Fri, 04/11/2014 - 10:37 | 4647378 toady
toady's picture

Hell or Phoenix. Not much difference really.

Fri, 04/11/2014 - 10:28 | 4647332 madbraz
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

Fri, 04/11/2014 - 10:47 | 4647420 Waterfallsparkles
Waterfallsparkles's picture

I think they only poll the Traders on Wall Street.

Fri, 04/11/2014 - 10:49 | 4647428 youngman
youngman's picture

Must be all those dollar store employees

Fri, 04/11/2014 - 10:52 | 4647440 Caracalla
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!

Fri, 04/11/2014 - 10:52 | 4647441 starman
starman's picture

Long hope short reality

Fri, 04/11/2014 - 11:00 | 4647466 Obama_4_Dictator
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.  

Fri, 04/11/2014 - 11:14 | 4647545 starman
starman's picture

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

Fri, 04/11/2014 - 11:01 | 4647469 Perimetr
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. 

Fri, 04/11/2014 - 11:03 | 4647486 Mr. Magoo
Mr. Magoo's picture

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

Fri, 04/11/2014 - 11:31 | 4647635 yogibear
yogibear's picture

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

Fri, 04/11/2014 - 13:56 | 4648187 syntaxterror
syntaxterror's picture

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

Sat, 04/12/2014 - 11:37 | 4650966 whidbey-2
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.

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