Investing.com – Consumer confidence in the U.S. rose more-than-expected in December, improving for the fourth consecutive month, 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 2.2 points to 42.8 in December from November’s reading of 40.6.
Economists had expected the index to rise by 1.9 points to 42.5 in December.
A reading above 50.0 indicates optimism, while those below 50.0 point to pessimism.
The index is 0.1 points below its 12-month average of 42.9 and 1.6 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 modestly lower against the euro, with EUR/USD easing up 0.07% to trade at 1.3199.
Meanwhile, U.S. equity markets were broadly higher after the open. The Dow Jones Industrial Average jumped 1%, the S&P 500 index gained 1.05%, while the Nasdaq Composite index advanced 0.9%.
In a report, Investor's Business Daily and TechnoMetrica Market Intelligence said their IBD/TIPP Economic Optimism Index rose by 2.2 points to 42.8 in December from November’s reading of 40.6.
Economists had expected the index to rise by 1.9 points to 42.5 in December.
A reading above 50.0 indicates optimism, while those below 50.0 point to pessimism.
The index is 0.1 points below its 12-month average of 42.9 and 1.6 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 modestly lower against the euro, with EUR/USD easing up 0.07% to trade at 1.3199.
Meanwhile, U.S. equity markets were broadly higher after the open. The Dow Jones Industrial Average jumped 1%, the S&P 500 index gained 1.05%, while the Nasdaq Composite index advanced 0.9%.