On Thursday, the main stock indices saw mixed results. Despite recent highs among US retail investors, the S&P 500 index was up just 0.03 percent after the start of trading. Meanwhile, the Nasdaq Composite was down 0.05 percent and the Dow Jones fell 0.08 percent.
Despite some uncertainty in the market, consumer confidence in the United States is currently at strong levels. The Michigan confidence index scored 79.4 in March, surpassing economists’ estimates and reaching its highest level since July 2021. Additionally, investor confidence has also improved, with half of respondents in a recent survey expressing optimism about the stock market’s development over the next six months.
Looking ahead to housing, pending transactions increased by 1.6 percent in February compared to January, but there was a slight dip in Chicago purchasing managers’ index which scored 41.4 in March below expectations. Nevertheless, there are positive indicators for US consumer and investor confidence as well as signs of growth in the housing market as we move forward into March and beyond.
