A private research group said consumer confidence unexpectedly fell in June resulting to a dip in the stock market on Tuesday. A disappointing way to end the second quarter. I think consumers are still not confident especially with reports that the housing market still hasn't recovered and that people are saving instead of spending.
Later this week we'll know if companies received substantial orders, or have observed favorable consumer trends and inventory. Yet to be released, analysts already have disappointing forecasts.
Analysts put a lot of weight on banking performance especially that the financial industry has received huge monetary aid from the government. It's believed that if they're not performing well, then nothing else will.
On the lighter side, the stock market is expected to finish the year higher. Well, at least this forecast keeps me going.
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