Stock Market Update

[BRIEFING.COM] The S&P 500 (+0.3%) and Nasdaq Composite (+0.8%) maintain their early gains while the DJIA (-1.0%) continues to slide. 

The Conference Board's Consumer Confidence Index dropped to 84.5 in January (Briefing.com consensus: 90.0) from an upwardly revised 94.2 (from 89.1) in December. In the same period a year ago, the index stood at 105.3.

The key takeaway from the report is that consumer concerns about both the present situation and expectations for the future deepened, driving the overall index to a level that was lower than the depths seen during the COVID pandemic.