Investing.com – Consumer confidence in the U.S. rose more-than-expected in January, improving for the fifth 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 4.7 points to 47.5 in January from December’s reading of 42.8.
Economists had expected the index to rise by 2.5 points to 45.3 in January.
A reading above 50.0 indicates optimism, while those below 50.0 point to pessimism.
Following the release of the data, the U.S. dollar remained lower against the euro, with EUR/USD rising 0.23% to trade at 1.2793.
Meanwhile, U.S. equity markets were broadly higher after the open. The Dow Jones Industrial Average jumped 0.95%, the S&P 500 index gained 1.15%, while the Nasdaq Composite index advanced 1.25%.
In a report, Investor's Business Daily and TechnoMetrica Market Intelligence said their IBD/TIPP Economic Optimism Index rose by 4.7 points to 47.5 in January from December’s reading of 42.8.
Economists had expected the index to rise by 2.5 points to 45.3 in January.
A reading above 50.0 indicates optimism, while those below 50.0 point to pessimism.
Following the release of the data, the U.S. dollar remained lower against the euro, with EUR/USD rising 0.23% to trade at 1.2793.
Meanwhile, U.S. equity markets were broadly higher after the open. The Dow Jones Industrial Average jumped 0.95%, the S&P 500 index gained 1.15%, while the Nasdaq Composite index advanced 1.25%.