The Consumer Confidence Index dropped to 86.9 in April from 118.8 in March (revised from 120), The Present Situation Index plunged to 76.4 from 166.7, Expectations Index rose to 93.8 from 86.8 and Jobs Hard-to-Get Index jumped to 33.6 from 13.8. Commenting on the data, “The 90-point drop in the Present Situation Index, the largest on record, reflects the sharp contraction in economic activity and surge in unemployment claims brought about by the COVID-19 crisis," said Lynn Franco, Senior Director of Economic Indicators at The Conference Board.
S&P500 (US500) pulled away from session highs after disappointing CB Consumer Confidence reading. Source: xStation5
