More market records | Another Apple all-time high | Why are CEOs so glum?
EDITOR'S NOTE
The people who make the money are not as confident as the people who spend the money.
CNBC's Jeff Cox writes about the Conference Board's latest confidence survey, which shows CEO sentiment growing increasingly negative while consumer optimism holds strong.
"We could be in one of those situations where CEO confidence is just reflective of what's been a weaker global economy but not necessarily a weaker U.S. economy," said Joseph LaVorgna, chief economist for the Americas at Natixis. ![]()
Declining confidence in the C-suites has not bled into the stock market. All three major indexes hit records on Wednesday.
There was plenty of good news to boost confidence.
Weekly jobless claims and private payroll numbers both came in better than expected. President Donald Trump said he might wait until after the election to finish trade negotiations with China - which could mean fewer disruptions to the stock market in 2020. And Federal Reserve Vice Chairman Richard Clarida reiterated the central bank's promise to stay put on interest rates - which should keep the economy humming.
"Monetary policy is in a good place and should continue to support sustained growth, a strong labor market, and inflation running close to our symmetric 2% objective," Clarida said.
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