Consumer confidence

Here are the market events you should be watching this week.

Thursday morning, Treasury Secretary Steven Mnuchin told CNBC that we could expect “significant” tax reform by August, including

U.S. consumer confidence rose and was higher than expected in September, according to a private sector report released on Tuesday.

Conference Board consumer confidence

U.S. confidence increased to the highest level since 2007 last week. Thank gas prices and job gains.
Industrial production in the U.S. unexpectedly dropped in October, weighed down by declines at utilities, mines and automakers that signal manufacturing started the fourth quarter on soft footing.
Applications for U.S. unemployment benefits rose more than forecast last week, representing a pause from a recent run of readings close to a 14-year low.
Not since March has consumer confidence risen by as much, with the headline reading jumping 5.5-points to 94.5 for its highest reading since October 2007.
Call it America’s $11 trillion advantage: Consumer spending is likely to steer the U.S. economy safely through the shoals of deteriorating global growth and turbulent financial markets.
The Conference Board’s index decreased to 86 this month, weaker than the most pessimistic forecast in a Bloomberg survey of economists, from an August reading of 93.4 that was the strongest since October 2007, the New York-based private research group said today.