Tuesday was ugly, as the markets' "head fake" - that is, opening strong and then falling into the market close - dismayed investors. So why are consumers so happy?
Consumer confidence for August surged to 101.5 astounding forecasters, Case-Shiller home prices rose more than expected at 4.5 percent for the year ending in June, new home sales were robust in July, and this morning's July Durable Goods handily beat expectations on top of a positive revision to June's strong reading.
"U.S. markets opened strong this morning on this positive economic data but China continues to be the "tail that wags the dog" and their market continued its downtrend", says Voya Global.
