In corporate news this morning, we get trading updates from fund managers Jupiter and Man Group.The industry in general is facing tough competition from cheap passive funds, and that's not likely to change any time soon.
This afternoon in the US, we get the University of Michigan consumer confidence index for October.Consumer spending is responsible for the majority of America's GDP. So consumer confidence is important.If consumers feel secure in their jobs and confident about the outlook, they spend.But if they fear losing their jobs, or that political turmoil will start to have a direct impact on their own lives, they will be far more thrifty.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Confidence has held up well. With interest rates low and employment high, consumers have been able to shrug off headlines about recession and impeachment.But the index is worth watching for signs that consumer resilience is wearing thin.
-
How retirement pots risk running out 11 years early if inflation remains highPension savers could find their retirement income may not last as long as they anticipated over fears that inflation may not slow down
-
How extending stealth tax freeze would cancel out pensioners’ Winter Fuel Payment by 2030Pensioners relying on just the full new state pension face paying tax on their income within a few years, as the payment rises but thresholds remain frozen
