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Investing Specialists

Consumer Confidence Metrics Hit a Rare Trifecta

Shopping center data hit new highs, auto sales broke all expectations in June despite strong headwinds, and pending home sales made one of their biggest jumps in the recovery.

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Note: I was traveling Thursday when the employment and trade reports were released. I will comment on the trade report next week when I return. I also dispensed with my normal markets summary because I wasn't around Thursday, and Friday was a holiday in the United States.

Economic data from the past week revealed some positive trends, with upbeat employment numbers for June being the biggest headline. However, remember that the employment report is often revised and outlier months in one direction are usually balanced by outliers in the other direction during the months following. Also keep in mind that Thursday's employment report was just one of many readings on the employment situation. 

Robert Johnson, CFA does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.

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