US Consumer Confidence Rises In July Amid Easing Economic Concerns

U.S. consumer confidence in July rose modestly amid easing concerns about the state of the economy and the labor market.

According to data released by the Conference Board on Tuesday, consumer confidence rose to 97.2 points in July, up from 95.2 in June.

“Pessimism about the future receded somewhat, leading to a slight improvement in overall confidence,” said Stephanie Guichard, senior economist, global indicators at the Conference Board.

Guichard added that the Expectation Index also saw an improvement across all three parameters, with consumers feeling less pessimistic about the future business conditions and employment, while feeling more optimistic about future income.

The modest uptick in consumer confidence in July was driven by consumers over 35 years old. Confidence saw an uptick among Republican consumers, while remaining stable across Democrat and Independent buyers.

The report also showed that President Trump’s tariffs were on the top of the minds of consumers – most of the respondents were worried that these tariffs would lead to higher prices.

Meanwhile, U.S. equities edged up in Tuesday morning trading, continuing the momentum after the EU tariff deal was struck over the weekend.

The SPDR S&P 500 ETF (SPY), which mirrors the S&P 500 index, was up 0.03% at the time of writing, while the Invesco QQQ Trust (QQQ), which mirrors the Nasdaq 100, rose 0.26%. Retail sentiment around the S&P 500 ETF on Stocktwits was in the ‘bullish’ territory.

Investors will also keep an eye out for the crucial Fed meeting outcome scheduled for Wednesday.

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