- Jim O'Sullivan, chief U.S. economist for High Frequency Economics Ltd.
U.S. consumer confidence dropped in August by the most in 10 months as consumers became less optimistic on the outlook of the nation's economy, the Conference Board Inc. said on Tuesday. An index of sentiment decreased to 60.6 from 65.4 points in July.
"The consumer is still very cautious," said Jim O'Sullivan, chief U.S. economist for High Frequency Economics Ltd. in Valhalla, New York.
"The labor market is still relatively weak. There's a lot of uncertainty about policy ahead of the election" and fuel costs increased, he said.
The Standard & Poor's 500 edged lower 0.08% to 1,409.30. The Dow Jones Industrial Average erased 0.17%, or 21.68 points, to 13,102.99. The Nasdaq Composite added 0.13 per cent to 3,077.14.
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