Consumer Sentiment: Tomorrow's Headliners
NEW YORK (
) -- Economists are hoping that the latest read on consumer sentiment, expected Friday from the University of Michigan, will show that conditions improved after retreating in August.
The consumer has been the focus of the market as the U.S. labor market and housing market both attempt to stabilize, and hopes for sentiment to improve. The preliminary read on consumer sentiment, due at 9:55 a.m. EDT Friday, is expected to climb to a reading of 67.8 from the prior month's read of 65.7. While the August read was down from 66 in July, it was still better than most economists had predicted.
While it may be hard to find a solid correlation between sentiment numbers and consumer spending, a better-than-expected read will continue to fuel optimism that the consumer is finding that conditions are improving.
Perhaps the current conditions component of the consumer sentiment bear closer watching. Last month, that reading fell to 66.6 from 70.5 in July, indicating that consumers aren't as excited about current conditions as the headline number would suggest.
Also on the economic docket, the Bureau of Labor Statistics will release import and export price data for August at 8:30 a.m. EDT. Later in the day, the Census Bureau will post wholesale inventories data for July and the Treasury will release its federal budget figures for August.
Turning to stocks,
Campbell Soup
(CPB) - Get Report
and
Brady
(BRC) - Get Report
. Shares of Brady jumped Thursday ahead of its earnings release after a KeyBanc analyst upgraded the maker of labels, signs and safety devices to buy from hold.
-- Written by Robert Holmes in New York
.
