For Immediate Release
Chicago, IL – October 1, 2020 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: YETI Holdings, Inc. YETI, Malibu Boats, Inc. MBUU, NIKE, Inc. NKE, K12 Inc. LRN and Activision Blizzard, Inc. ATVI.
Here are highlights from Wednesday’s Analyst Blog:
Solid Consumer Confidence Confirms Economic Stability: 5 Picks
September is set to become the first month since March to record a sharp decline in stock markets. With just one day of trading left for this month, the three major indexes — the Dow, the S&P 500 and the Nasdaq Composite — are down 3.4%, 4.7% and 5.9%, respectively.
However, surprising many financial experts, Americans have expressed their highest level of confidence in the economy in September since March. In other words, U.S. consumer confidence reached the highest level in September since the coronavirus outbreak.
Consumer Confidence Jumps in September
On Sep 29, the conference board reported that its consumer confidence index for the month of September came in at 101.8, the highest in six months. The metric exceeded the consensus estimate of 89.6. Notably, consumer confidence increased in September after back-to-back monthly declines.
Meanwhile, the August index was also revised upward to 86.3 from 84.8 reported earlier. The index in September marked the biggest one-month jump in 17 years. However, the consumer confidence index remained below its pre-pandemic level of 130.7 recorded in February.
The Present Situation Index, which gauges consumers’ views on current market conditions, climbed from 85.8 in August to 98.5 in September. Moreover, the Expectations Index, which is a measure of consumers’ short-term (for the next six months) outlook for income, business and labor