Stocks are awaiting data from the University of Michigan’s Consumer Sentiment survey which will be released at 10 EST this morning. The survey is used by investors to gauge the health of consumer spending (which accounts for approximately 70% of Gross Domestic Product). Consensus is calling for an increase from 83.4 at the end of August to 84.3 in September. Also, per Econoday, investors will be watching the “assessment of current conditions” as a gauge of public reaction to the subprime fiasco.
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