CONSUMER CONFIDENCE MISSES EXPECTATIONS AND FALLS

The latest reading of the University of Michigan's consumer confidence index is out, and it's a miss.

The preliminary April reading of this measure unexpectedly fell to 72.3 from 78.6 last month.

Economist expected the index to be unchanged at 78.6.

This report just adds to the bad news of the morning. Earlier, we learned that retail sales unexpectedly fell in March.