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U.S. Markets Mixed as U.S. Consumer Confidence Moves Off Six-Year Highs

June 14, 2013 10:26 AM EDT
U.S. consumers are a little less confident this month, as continued economic growth amid higher fuel prices, borrowing rates, and taxes has come into question.

The UofM preliminary confidence reading fell from a six-year high of 84.5 in May for 82.7 in June. The number was below consensus estimates calling for a reading of 83.0 (or 84.5 at Bloomberg).

Though housing prices have been moving higher, the cost to borrow is also edging higher on speculation that the Fed might call an early exit to QE3.

Bloomberg's Consumer Comfort index fell to a minus 31.3 last week, a two-month low and down from a reading of minus 29.7 for the prior week.

U.S. markets are mixed early Friday, with the S&P 500 and Dow Jones Industrials both higher, while the Nasdaq is negative.


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