Investing.com - Consumer confidence in the U.S. declined unexpectedly in February, industry data showed on Tuesday.
In a report, Investor's Business Daily and TechnoMetrica Market Intelligence said their IBD/TIPP Economic Optimism Index fell to 43.1 this month from January’s reading of 45.2. Economists had expected the index to rise to 46.1 in February.
A reading above 50.0 indicates optimism, while those below 50.0 point to pessimism.
The index is 0.4 points above its 12-month average of 44.5, 0.5 points above its reading of 44.4 in December 2007 when the economy entered the recession, and 4.5 points below its all-time average of 49.4.
Following the release of the data, the U.S. dollar held on to gains against the euro, with EUR/USD shedding 0.16% to trade at 1.3507.
Meanwhile, U.S. stock markets were higher after the open. The Dow Jones Industrial Average rose 0.35%, the S&P 500 index added 0.6%, while the Nasdaq Composite index increased 0.55%.