The April Conference Board Consumer Confidence # was a much better than expected 39.2, almost 10 pts better than forecasted and up from a revised 26.9 in March. It’s the highest level since Nov ’08 and the
questionnaire was likely filled out a few weeks ago but definitely reflects the sense of a slowdown in the economic deterioration and rally in the capital markets.
BUT, most of the gain was in the Expectations component which rose 19.3 pts as hope reigns supreme. The Present Situation component rose less than 2 pts. Those that said jobs were Plentiful fell .2 pts to the lowest level since 1991 but those that said jobs were Hard To Get fell almost 1 pt from last months highest level since 1992. Those that think business will get better within 6 mo’s rose to the highest since Sept ’07. Those that plan to buy a home within 6 mo’s rose a hair while those that plan to buy a car within 6 mo’s rose
to the highest since Jan.
Although the information contained herein has been obtained from sources
Miller Tabak + Co., LLC believes to be reliable, its accuracy and
completeness cannot be guaranteed. This report is for informational
purposes only and under no circumstances is it to be construed as an
offer to sell, or a solicitation to buy, any security. At various times
we may have positions in and effect transactions in securities referred
to herein. Any recommendation contained in this report may not be
appropriate for all investors. Trading options is not suitable for all
investors and involves risk of loss. Although the information contained
in the subject report (not including disclosures contained herein) has
been obtained from sources we believe to be reliable, the accuracy and
completeness of such information and the opinions expressed herein
cannot be guaranteed. An options disclosure document may be obtained
from Mr. Jay Stenberg, Miller Tabak + Co., LLC., 331 Madison Avenue, New
York, NY 10017. Additional information is available upon request.
Member NYSE, NASD, CBOE, PHLX, ISE, NFA.