CEO confidence decreased slightly in the first quarter of 2010. The measure declined to 62, down from 64 last quarter (a reading of more than 50 points reflects more positive than negative responses).
Consumer confidence index arrived at 57.9 (1985=100), up from 52.3 in March and 46.4 in February. Economists watch the number closely because consumer spending accounts for about 70 percent of U.S. economic activity. However, April's reading is still far from what's considered healthy. A reading above 90 indicates the economy is on solid footing; above 100 signals strong growth.
If consumer spending continues its uptrend, business executives will likely to have greater confidence in economic growth and increase capital spending and hiring more employees, which will in turn boost consumer confidence.
The recovery of the Dow Jones Industry Average seems to lose its steam and the price target is now adjusted to 11,286.
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