Investing.com – Consumer confidence in the U.S. edged higher in October, industry data showed on Tuesday.
In a report, Investor's Business Daily and TechnoMetrica Market Intelligence said their IBD/TIPP Economic Optimism Index rose by 0.4 points to 40.3 in October, up from September’s reading of 39.9.
Economists had expected the index to decline by 1.9 points to 38.0 in October.
A reading above 50.0 indicates optimism, while those below 50.0 point to pessimism.
In August, the index had crashed to its historic low of 35.8. The index is 3.4 points below its 12-month average of 43.7 and 4.1 points below its reading of 44.4 in December 2007 when the economy entered into the recession, and 9.8 points below its all-time average of 50.1.
Following the release of the data, the U.S. dollar held gains against the euro, with EUR/USD shedding 0.45% to trade at 1.3580.
Meanwhile, U.S. equity markets were mixed after the open. The Dow Jones Industrial Average fell 0.5%, the S&P 500 index slumped 0.4%, while the Nasdaq Composite index eased up 0.05%.
In a report, Investor's Business Daily and TechnoMetrica Market Intelligence said their IBD/TIPP Economic Optimism Index rose by 0.4 points to 40.3 in October, up from September’s reading of 39.9.
Economists had expected the index to decline by 1.9 points to 38.0 in October.
A reading above 50.0 indicates optimism, while those below 50.0 point to pessimism.
In August, the index had crashed to its historic low of 35.8. The index is 3.4 points below its 12-month average of 43.7 and 4.1 points below its reading of 44.4 in December 2007 when the economy entered into the recession, and 9.8 points below its all-time average of 50.1.
Following the release of the data, the U.S. dollar held gains against the euro, with EUR/USD shedding 0.45% to trade at 1.3580.
Meanwhile, U.S. equity markets were mixed after the open. The Dow Jones Industrial Average fell 0.5%, the S&P 500 index slumped 0.4%, while the Nasdaq Composite index eased up 0.05%.