How has the market reacted in the past to the Consumer Confidence Index?
Data from the past two years reveals that the market has reacted rather favorably to this release, whether positive or negative. Almost 57% of sessions advanced on the day of dissemination producing an average gain of 1.18%. Narrowing in on the sector that is perceived to be the most affected by these numbers, Consumer Discretionary, and almost 70% of session produced gains, averaging the same 1.18% on the day. The thrill of the release wears off in the week following with only 46% of sessions advancing in the sector and an approximate 50% gaining in the market. These figures would give indication that this is a beneficial time to hold the market, or the sector, through these releases. Let’s filter the data out to provide further clarification.
