Economic Optimism --
The US IBD/TIPP Economic Optimism releasewd by The Investor's Business Daily / TechnoMetrica Institute of Policy and Politics, posted a 46.7 in Novemeber, up slightly up from October's 46.4, but shy of the forecasted 47.8.
In the official release, ''Consumer confidence is sustaining its October gains. The recent gains in the stock market, the Fed’s aggressive monetary policy, 150,000 new jobs in October, Republicans’ vow to cut spending are all helping to sustain confidence,'' said Raghavan Mayur, president of TIPP, a unit of TechnoMetrica Market Intelligence, IBD's polling partner.
U.S. Wholesale Inventories --
Inventories at the wholesale level rose 1.5% in September following a 1.2% gain the month before, the Commerce Department said Tuesday. Sales of wholesalers rose 0.4% after a 0.5% rise in August. The inventory-to-sales ratio rose to 1.18 in September from 1.17 in the prior month. The ratio is still below the 1.22 level of September 2009. The growth in inventories in September was very close to the government estimates in the advance gross domestic product report for the third quarter suggesting little revision to the reported 2% growth rate. There could be implications to Q3 GDP in the September trade deficit report to be released on Wednesday.
*ABC/Washington Post Consumer Confidence will be reported at 4PM EST today.
