Consumer confidence index in the US plunged to its lowest level since November 2011, hinting the Americans are feeling worse about the economy than they have in a long time. The drop in the consumer confidence index is the latest swing for the volatile measure, which has been on a roller-coaster for much of the past year.
Gallup polling shows Obama enjoying his highest approval rating since July. Possible boosts include the economy and his clash with the GOP over the payroll tax cut. But he remains vulnerable.
Stocks plummeted Monday, in response to the S&P's decision Friday evening to downgrade the US debt rating from AAA to AA+.
After plunging at the opening Tuesday, the Dow Industrial Average regains some ground. But uncertainty over the Japan nuclear crisis could weigh on the economy, and markets, for some time.
Online shopping posted growth of 15.4 percent this season compared with last year, a new report finds. Overall, consumers spent 5.5 percent more between Nov. 5 and Dec. 24.
The Consumer Confidence Index jumped to 54.1 in November. That's still well below prerecession levels, but the improved sentiment may have helped online sales on Cyber Monday.
An index of consumer confidence rose to 53.5 in August, up from 51.0 in July, the Conference Board reported. Still, the index remains well below normal.
Although retailers are hawking Black Friday deals, will consumers be in a mood to take them up on their offers?
They've dropped 5 cents over the past week and oil is down from $71 to below $60 a barrel. But lower fuel prices may not make an impression on recession-hit consumers.