On Thursday, the main stock indices showed varying trends. The sentiment among US retail investors is currently at a high, nearing 12-month highs, as per a survey. The S&P 500 index started trading with a slight increase of 0.03 percent, while the Nasdaq Composite, which focuses more on technology, was down by 0.05 percent. The Dow Jones was down by 0.08 percent.
Consumer confidence in the United States is currently strong, with the Michigan confidence index scoring 79.4 in March, surpassing economists’ estimates of 76.5 from February. This is the highest reading since July 2021. Investor confidence has also improved, with the AA II survey indicating that half of the respondents hold a positive view of the stock market’s development in the next six months. This is close to the 12-month highs for the year, where 53 percent of respondents were optimistic, compared to the historical average of 38 percent.
On the other hand, pending housing transactions in the USA grew by 1.6 percent in February from January. However, the US Chicago purchasing managers’ index fell short of expectations. The index scored 41.4 in March, below economists’ estimate of 46.0. The February score was 44.0.