On Thursday, the stock indices showed varying trends. While the sentiment among US retail investors is 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. On the other hand, the Nasdaq Composite, which focuses more on technology, was down by 0.05 percent. The Dow Jones was down by 0.08 percent.
Meanwhile, consumer confidence in the United States remains 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. Additionally, investor confidence has also improved with half of respondents holding a positive view of the stock market’s development in the next six months according to AA II survey, close to 12-month highs for the year where 53 percent of respondents were optimistic compared to historical average of 38 percent.
On one hand, pending housing transactions in USA grew by 1.6 percent in February from January but on the other hand US Chicago purchasing managers’ index fell short of expectations as it scored only 41.4 in March below economists’ estimate of 46
