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FBN’s Lori Rothman on the issues that have the biggest impact on consumer confidence and the economic outlook.
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Mark that we like to see all that makes you feel good -- What about overall confidence and optimism about the economy and stocks lawyer Romney's -- from the Fox Business now or.
-- we get -- consumer confidence out later this morning but it is interesting article in the Wall Street Journal today about pessimism.
And that flood FaceBook IPO he sent -- billions of dollars coming out of stock mutual funds and that worry.
Like how much that's gonna weigh on the markets in the months to come one thing casting a shadow but out if you -- so many ways -- right to self fulfilling prophecy I feel about it.
This is -- I love this indicator.
Consumer confidence indicator can almost predict where the economy is headed such -- good predicted.
Metric because if I'm feeling good my gas prices are going down until out shop for the summer and -- summer clothes and let hot.
But if that comes down a little that if everybody's concerned because you know house prices are firming but they're nowhere near where they used to be we -- case Shiller about it top -- -- and the forecast and this is -- the US markets futures are indicated so.
Hi it's a strong this morning because.
Confidence is expected to firm.
The housing price numbers the case Shiller numbers are expected affirmed this coming until the last week's -- existing home sales which are better and don't forget the -- Arnold S is so low.
So -- mixed signals right and that's again getting back to this confidence in might -- importance how do you feel how are you interpreting the data and people are thrilled with our overall expansion rate between two and repurchase and GDP that's nothing to get excited about my and bed and we think though and -- the -- throw it out there has more of an impact on people's confidence and have relate this to the election as well.
Gas prices the unemployment rate on their own personal income situation by all -- gas prices are down but they're still north of three dollars and sixty cents down accurate like 360.
Three national this is another -- -- -- split picture mean -- glass half full glass half empty especially with unemployment because.
What the F Friday numbers expected -- 150000 new jobs added.
But so much and poisonous numbers especially if you work in the initial jobless claims numbers -- government figures are revised.
Up and down week after week and the monthly who knows what it's gonna -- with the prior months revision is going to look like so it's really hard to get a grasp and of course the administration's like well we're adding jobs and this is just the new normal but.
Acting is were so far below full employment.
It's kind of depressing and so I think gas prices coming down again our bar of expectations stake in is so low right now and -- it a good news any bit of improvement.
Will take and get -- -- confidence from.
And -- -- prices have been in decline since I think they've peaked in mid of 2006.
About when I got so where have to help.
-- just in the same actually.
It was shortly thereafter.
But on the today.
But again we have been in this.
Six year decline by high prices -- coming at least I -- and you'd expect with a low mortgage rates on top of that of people -- -- but it's only now starting to happen.
But there's a ton of inventory of for closing or about foreclosed homes so -- how hard it is -- -- -- rehabilitated.
But -- certain pockets of the country where there's the capital I didn't -- market at least we'll get that confidence number and case shows out of the top out -- -- -- being watched.
Where every day -- -- -- -- -- on the box this is mark thank you -- not.
I know what are different yeah.
Thank you lie if it.
