Investing.com – Consumer confidence in the U.S. rose less-than-expected in November, industry data showed on Tuesday.
In a report, Investor's Business Daily and TechnoMetrica Market Intelligence said their IBD/TIPP Economic Optimism Index inched up by 0.3 points to 40.6 in November, up from October’s reading of 40.3.
Economists had expected the index to rise by 0.8 points to 41.1 in November.
A reading above 50.0 indicates optimism, while those below 50.0 point to pessimism.
The index is 2.6 points below its 12-month average of 43.2 and 3.8 points below its reading of 44.4 in December 2007 when the economy entered into the recession.
Following the release of the data, the U.S. dollar remained lower against the euro, with EUR/USD gaining 0.41% to trade at 1.3833.
Meanwhile, U.S. equity markets were higher after the open. The Dow Jones Industrial Average rose 0.35%, the S&P 500 index added 0.65%, while the Nasdaq Composite index jumped 1%.
In a report, Investor's Business Daily and TechnoMetrica Market Intelligence said their IBD/TIPP Economic Optimism Index inched up by 0.3 points to 40.6 in November, up from October’s reading of 40.3.
Economists had expected the index to rise by 0.8 points to 41.1 in November.
A reading above 50.0 indicates optimism, while those below 50.0 point to pessimism.
The index is 2.6 points below its 12-month average of 43.2 and 3.8 points below its reading of 44.4 in December 2007 when the economy entered into the recession.
Following the release of the data, the U.S. dollar remained lower against the euro, with EUR/USD gaining 0.41% to trade at 1.3833.
Meanwhile, U.S. equity markets were higher after the open. The Dow Jones Industrial Average rose 0.35%, the S&P 500 index added 0.65%, while the Nasdaq Composite index jumped 1%.