On Thursday, the US stock market displayed varying trends. While the sentiment among retail investors is currently high, nearing 12-month highs, the S&P 500 index started trading with a slight increase of 0.03 percent. The Nasdaq Composite, which focuses more on technology, was down by 0.05 percent, and the Dow Jones was down by 0.08 percent.
Investor confidence has also improved as per recent surveys. The AA II survey indicates that half of the respondents hold a positive view of the stock market’s development in the next six months, close to the 12-month highs for the year. This optimism is driven by strong consumer confidence in the United States, 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 and reflects consumer optimism about economic growth in the coming months.
However, while housing transactions grew by 1.6 percent in February from January, other indicators did not meet expectations. For instance, the US Chicago purchasing managers’ index fell short of expectations in March, scoring only 41.4 instead of economists’ estimate of 46
