The Expectations Index, which shows the short-term outlook for income, business, and labor market conditions, decreased from 82.2 to 72.9. Numbers below 80 usually signal a recession ahead.
The report showed that Consumer Confidence fell for all age groups but was deepest for consumers between 35 and 55 years old.
The Conference Board commented: “Average 12-month inflation expectations surged from 5.2% to 6% in February. This increase likely reflected a mix of factors, including sticky inflation but also the recent jump in the prices of key household staples like eggs and the expected impact of tariffs.”
U.S. Dollar Index tested session lows as traders reacted to the weaker-than-expected CB Consumer Sentiment report. Currently, U.S. Dollar Index is trying to settle below the 106.25 level.
Gold pulled back towards the $2920 level after the release of the report as traders focused on the broad sell-off in commodity markets.
SP500 remained under strong pressure and moved toward the 5930 level as traders focused on Consumer Sentiment data.
