-
US Economic Optimism Falls Despite Jobs Recovery, Stock Market Rally As Inflation Jumps
The stock market rally pushing the S&P 500 to all-time highs lifted the personal financial outlook among investors to a new record, the July IBD/TIPP Poll finds. Yet rising financial stress, as stimulus fades and inflation percolates, is weighing on U.S. economic optimism. The IBD/TIPP Economic Optimism Index, an early monthly read on consumer confidence, slipped 2.1 points to 54.3 in July, the lowest since February. Readings above the neutral 50 level reflect optimism. The Covid jobs recovery strengthened in June, and wages continued to jump as reopening sectors of the U.S. economy bid for scarce labor. ... (full story)