Consumer Confidence Continues Rebound after Hurricanes

- Consumer Confidence for December rose to 103.6 versus estimates of 103.0 and a reading of 98.3 in November.

BOTTOM LINE: US consumer confidence rose in December to the highest level in four months, helped by falling gas prices and an improving labor market, Bloomberg said. The present situation component of the index jumped to 121.5 from 113.2 last month. The future outlook component rose to 91.6 versus 88.4 in November. Those consumers that said jobs are plentiful rose to 23.6% from 21.1% the prior month. I expect consumer confidence to make new cycle highs next year.