Consumers Not So Confident – Stocks Fall!
Stock Index futures fell sharply this afternoon, as the Conference Board reported consumer confidence fell sharply in August to 105.0 after posting a 111.9 in July. In addition, S&P/Case-Shiller reported property values in 20 metro areas fell by 3.5% in June from year-ago levels. Stock Index traders did not react kindly to this news, sending the September e-mini futures down by 31.50 points to stand at 1438.25. September NASDAQ 100 futures closed down 42.75 to end the session at 1907.75.
Treasury Futures finished on the upside, with the September 30-year Bond closing at 111-20, up 0-09, and the September 10-year Notes settling at 109-160, up 0-210.
Economic Data Scheduled for Wednesday, August 29, 2007
(All times in U.S. Central Time)
U.S.
9:30 AM: Weekly EIA Energy Stocks Report
Great Britain
None
Canada
None
European Union
1:10 AM:(Germany) Gfk Consumer Confidence Survey (Consensus 8.5)
Japan
6:50 PM: Retail Trade MoM for July (Consensus -1.1%)
