Friday, Oct 11 at 9.55AM. University of Michigan Consumer
Sentiment (Oct-Pre). Forecast 72.0.
Credit Suisse says: "We expect consumer sentiment to drop to a
two-year low because of the government shutdown. The final
September report said consumers, "don't expect the President and
Congress to be careless enough to allow intransigence on the
federal budget and debt ceiling to shutdown the government." But
that happened, so we expect bad news heard on government to spike.
The shutdown has put downward pressure on stock prices and even
clouded the economic landscape with the postponement of economic
reports, particularly the widely publicized employment report. The
latter could be viewed as an absence of good news, since more job
gains were anticipated."
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