Consumer Sentiment Continues To Rise In July Despite Trump’s Tariff War Escalation
Synopsis
According to the University of Michigan survey on Friday, the index of consumer sentiment rose to 61.8 in July, continuing its rise from the previous month.
Consumers in early July continued to be less pessimistic about economic conditions, even as President Donald Trump escalated the tariff war after the July 9 deadline passed.
According to the University of Michigan survey released on Friday, the index of consumer sentiment rose to 61.8 in July, continuing its upward trend from the previous month.
Meanwhile, U.S. equities appear poised for a positive opening on Friday as investors react to the strong earnings reported so far this week.
The SPDR S&P 500 ETF (SPY), which mirrors the S&P 500 index, was up 0.09% at the time of writing during the morning trade, while the Invesco QQQ Trust (QQQ), which mirrors the Nasdaq, gained 0.02%. Retail sentiment around the S&P 500 ETF on Stocktwits was in the ‘bullish’ territory.
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