Urgent: The U.S. Consumer Confidence Index rises to the highest level in 9 months.

The Conference Board has just released data on the American Consumer Confidence Index for the current month of October, which is very positive and higher than market expectations, as the index recorded its highest level since January. According to the reported data, the American Consumer Confidence Index recorded 108 points this month, which is better than the expectations that projected the index to be around 99.5 points. It is worth noting that the previous reading of the American Consumer Confidence Index was around 98.7 points in September, which has been revised upward to 99.2 points. It should be noted that the American Consumer Confidence Index strongly affects financial markets, whether the stock market or bonds, as consumer spending represents two-thirds of economic activity. Therefore, if consumers are not confident in economic activity, they will not purchase goods, causing confidence to influence consumer spending, which, in turn, affects economic growth. For stock markets, strong economic growth reflects improved corporate profits and rising stock prices.