Here comes consumer confidence ...

REUTERS/Mike StoneThe University of Michigan will release results of its preliminary survey of consumers for April at 10 a.m. ET.

Economists forecast that the consumer sentiment index slipped to 96.5 from 96.9 in March, according to Bloomberg.

Consumer confidence received a jolt after the November election, although the details of the UMich survey has consistently shown a wide partisan divide. While Republicans have suddenly turned bullish on the economy because of expectations from the new administration, democrats are fearful of a recession.

Longer-term, the survey respondents remained optimistic about their income and job prospects, and they expect inflation to remain low.

The consumer confidence index from the Conference Board jumped to a 16-year high in March.

More to come ...

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