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Afternoon Note

Sentiment Elevated but Guarded

By Charles Payne, CEO & Principal Analyst
9/29/2017 2:06 PM
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Consumer sentiment came slightly lower than expected, but reaming in a strong holding pattern that puts the year-to-date reading at 96.2 the highest since 2000 and well above 92.9 in 2016.  Expectations slipped as those that see good times ahead tumbled to 47% from 54%, but overall the number was stronger than consensus. 

 

September

Aug

Sep

Aug

M-M

Y-Y

 

2017

2017

2016

Change

Change

Index of Consumer Sentiment

95.1

96.8

91.2

-1.8%

+4.3%

Current Economic Conditions

111.7

110.9

104.2

+0.7%

+7.2%

Index of Consumer Expectations

84.4

87.7

82.7

-3.8%

+2.1%

 

 

       

 

 

I continue to love the underpinnings of the rally while worry Republicans are going to blow the tax reform.  It’s not that a deal that won’t happen, but if there are hiccups like all the efforts to repeal and replace Obamacare, the ultimate tax deal could mean higher taxes for some and losing things like mortgage interest deduction.

Yes, any deal would be better than no deal but a great deal should be easy.

Have a great weekend (but watch my show tonight first).


 

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