WASHINGTON (AP) — Americans’ view of the U.S. economy improved this month, but Americans remain concerned about the impact of tariffs on their economic futures.
The Conference Board said Tuesday that its consumer confidence index rose two points to 97.2 in July, up from 95.2 the previous month.
The increase in confidence was in line with analysts’ forecasts.
In April, American consumers’ confidence in the economy sank to its lowest reading since May 2020, largely due to anxiety over the impact of President Donald Trump’s tariffs.
A measure of Americans’ short-term expectations for their income, business conditions and the job market rose 4.5 points to 74.4, however that’s still well below 80, the marker that can signal a recession ahead.
Consumers’ assessments of their current economic situation inched down by 1.5 points to 131.5.
An inflation measure closely tracked by the Federal Reserve remained low last month, extending a trend of cooling price increases.
Nvidia has once again turned out quarterly results that easily exceeded Wall Street’s forecasts.
Surveys show small business owners overall are feeling positive about their business and achieving the goals they set for this year despite inflation.
A surge in optimism by Democrats over the prospects of Vice President Kamala Harris lifted U.S. consumer sentiment slightly this month.
Americans stepped up spending at retailers, easing concerns that the economy might be weakening.
U.S. stocks rose for one of their best days of the year, and Wall Street relaxed after passing the first of several tests this week.
U.S. stocks closed a wild, whipsaw week for Wall Street with modest gains. Treasury yields eased ahead of big reports coming up on the economy.
U.S. stocks are bouncing back after the market experienced its worst day in two years on Monday, but the average investor may still be spooked.
A rising tide swept stocks higher, and calm returned to Wall Street after Japan’s market soared earlier Tuesday to claw back much of the losses.
Worries over the U.S. economy have cast a pall over world markets.
