U.S. Economic Confidence Declines After Stock Market Dip

A new Gallup poll shows that its U.S. Economic Confidence Index “dropped recently — with the three-day rolling average for the index falling 10 points [to -23] at the end of last week.”

“The more negative three-day rolling averages toward the end of the week likely reflected the 318-point drop in the Dow on Jan. 24.”

Implications: “President Barack Obama presents his State of the Union address to the nation on Tuesday, with the economy promising to be a major focus. Meanwhile, the Federal Reserve is also meeting this week — its last meeting with outgoing Chairman Ben Bernanke. As always, announcements from that meeting or from the president could have an impact on stock prices. And if the stock market continues its precipitous drop, Americans’ confidence could continue to tumble as well.”

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