Release Ahead of Michigan Consumer Sentiment Figures
By
Mike Paulenoff
The next potentially meaningful Data Hurdle comes today at 10 AM ET when the Michigan Consumer Sentiment figures for May are released...
The attached graphic shows how dismal Sentiment has been for the past 12 months. No wonder the stock market can't get out of its own way. The forecast for today's May release expects a headline figure of 59.1 compared with April's 65.2 (yikes). Does the Fed care about downward spiraling Consumer Sentiment? Given the poor sentiment (and confidence) conditions, how long can consumption sustain before it implodes, which will really put the Fed behind the 8-ball, risking an economic hard or crash landing?
