00:00It's Benzinga, bringing Wall Street to Main Street.
00:02U.S. consumer confidence rebounded in October to its highest level since June,
00:07as Americans reported improved assessments of current business conditions and future
00:12expectations, according to the Wall Street Journal. Research group The Conference Board
00:17reported that the Consumer Confidence Index rose to 91.7 from 84.2 in September,
00:24beating economists' expectations of 81. The present situation index increased to
00:29120.4, while the expectations index climbed 6.9 points to 72.6. The labor market differential
00:37improved 2.4 percentage points to 5.3 percent. Fergus McCormick, senior economist at the
00:43Conference Board, linked the recovery to easing retail gasoline prices. However, McCormick said
00:49consumer confidence remained on a long-term downward trend. A separate University of Michigan survey
00:55showed consumer sentiment declining slightly in October. For all things money, visit Benzinga.com.
