consumer spending: Stocks maintained modest losses after the sentiment data. Markets watch sentiment levels to get a feeling for the direction of consumer spending. , according to Market Watch. Getty Images Enlarge Image Pedestrians carry shopping bags as they walk along Market Street on May 13 in San Francisco. In general, confidence continues to hold up fairly well. While not especially strong, the resilience in confidence was one of the reasons we did not believe the sharp slowing in many growth indicators at the start of the year reflected fundamental deterioration, Jim O Sullivan, chief U.S. economist at High Frequency Economics. MarketWatch A gauge of consumer sentiment is the highest in nine months, with sunnier views on both current and upcoming economic conditions, according to data released Friday. The overall consumer-sentiment gauge from the University of Michigan and Thomson Reuters rose to a preliminary reading of 82.6 in April the highest since July from a final March level of 80. For context, the gauge average is 86.9 over the year leading up to the start of the recession.
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