DBI Today: 49.1 (−3.1)
American consumers just delivered a gut-check to an economy that had been humming along nicely. Two numbers landed within hours of each other on Friday: a closely watched survey showed people feeling far gloomier about the economy than expected, and official data showed shoppers pulled back on spending by the most in over a year. Today's Daily Business Index reading is 49.1, down 3.1 points — a notably sharp move that pulls the index just below the neutral 50 mark. Add in a Middle East deadline that came and went without resolution, keeping oil prices elevated, and you have a day where the story wasn't so much what markets did, but what people are starting to worry about.
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