Ahead of the Bell: Consumer Sentiment |
|
|
|
Published
:
Fri, 13 Apr 2007 13:02
|
NEW YORK (AP) - Following on the heels of retail sales, investors on Friday will look to a University of Michigan report on consumer sentiment for preliminary information on consumer spending moods for the month.The market is forecasting a decline in the index to 87.0, according to Briefing.com, from a reading of 88.4 in March.The figures will be released at 10:00 a.m. EST.Recent market jitters about the condition of the economy may affect the index, which hit a two-year high in January amid a drop in gas prices.The report monitors consumer willingness to spend money, and is considered a better indicator of mood, compared to actual spending habits.Recent reports on retailing trends indicate weakness in the sector. Some investors were concerned on Thursday after retailers' reports on sales at stores open at least a year, an important measure known as same-stores sales, contained a number of warnings that sales would be light during April. Wal-Mart Stores Inc., for example, said same-store sales in March rose above Wall Street expectations, but the world's largest retailer still warned April will prove a difficult month.Meanwhile, quarterly earnings reports still haven't offered a strong catalyst to lift stocks higher.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
|
|
|
|
|
|
Print this Story
Bell Microproducts gets Nasdaq extension 