US consumer confidence deteriorates further in March
The Conference Board said its consumer confidence index plunged 7.2 points to 92.9 this month. Economists polled by Reuters had forecast the index sliding to 94.0. The Present Situation Index, based on consumers' assessment of current business and labor market conditions, fell 3.6 points to 134.5.
Get a look at the day ahead in U.S. and global markets with the Morning Bid U.S. newsletter. Sign up here.
The Expectations Index, based on consumers' short-term
outlook for income, business, and labor market conditions, dropped 9.6 points to 65.2 - the lowest level in 12 years and well below the threshold of 80 that usually signals a recession ahead.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Reuters
6 minutes ago
- Reuters
China's Premier Li proposes global AI cooperation organisation
SHANGHAI, July 26 (Reuters) - Chinese Premier Li Qiang proposed on Saturday establishing a world artificial intelligence cooperation organisation, calling on countries to coordinate development and security of the fast-evolving technology. Speaking at the opening of the annual World Artificial Intelligence Conference in Shanghai, Li called AI a new engine for growth but said governance is fragmented and emphasised the need to step up coordination between countries to form a globally recognised framework for AI. The three-day event brings together industry leaders and policymakers at a time of escalating technological competition between China and the U.S., with AI emerging as a key battleground between the world's two largest economies. Washington has imposed export restrictions on advanced technology to China, including AI chips and chipmaking equipment, citing concerns the technology could enhance China's military capabilities. Despite these restrictions, China has continued making AI breakthroughs that have drawn close scrutiny from U.S. officials. Li said AI technologies were rapidly evolving but that there were constraints, such as the lack of high-end computing chips and restrictions on talent exchange. He called for breaking through bottlenecks for open and coordinated innovation.
Reuters
5 hours ago
- Reuters
PagerDuty exploring potential sale after receiving buyer interest, sources say
NEW YORK, July 25 (Reuters) - PagerDuty (PD.N), opens new tab is exploring options, including a potential sale of the U.S.-based software maker, after receiving inbound acquisition interest, people familiar with the matter said on Friday. The company is working with Qatalyst Partners on the sale effort, after attracting interest from both financial sponsors and strategic acquirers. The investment bankers are now soliciting possible further buyer interest in PagerDuty, with this process at an early stage, the sources added. Shares in PagerDuty jumped more than 10% on the news, giving the company a market value of around $1.5 billion. The sources cautioned that a sale of the company was not guaranteed and spoke on condition of anonymity to discuss private deliberations. PagerDuty and Qatalyst Partners did not immediately respond to requests for comment. San Francisco, California-based PagerDuty makes software that helps businesses monitor their IT systems and respond to cyber incidents and outages. Some of its customers include Cisco Systems (CSCO.O), opens new tab, Fox Corp (FOXA.O), opens new tab, Shopify ( opens new tab, Zoom (ZM.O), opens new tab, and the New York Stock Exchange, according to the company's website. This is not the first time the company has explored a sale, per the sources, with a similar effort in late 2023 failing to yield an agreeable offer from a buyer.
Reuters
6 hours ago
- Reuters
About 100 players, two dozen club employees face fines for selling Super Bowl tickets
NEW YORK, July 25 (Reuters) - About 100 NFL players and two dozen employees from several teams face fines for selling this year's Super Bowl tickets for more than face value, a source told Reuters on Friday, activity that violated a long-standing league policy. Players will be fined 1.5 times the face value of the ticket they sold while club employees will be fined twice the amount. ESPN first broke the news on the fines. League and team employees, including players, are prohibited from selling NFL game tickets acquired from their employer for more than face value or more than they paid. NFL players have an opportunity to buy two Super Bowl tickets at face value. None of the individuals involved or their teams were identified. In the 2025 contest, when the Philadelphia Eagles defeated the Kansas City Chiefs, the most expensive tickets at the New Orleans' Superdome had a face value of about $7,500 and were priced as high as $56,770 on the resale market . In a memo seen by Reuters, the league's head of compliance told clubs the department was in the process of concluding its investigation into the matter. "The investigation has revealed that club employees and players sold their tickets to a small number of 'bundlers' who were working with a ticket reseller to sell the Super Bowl tickets above face value," the document read. "Those that worked to 'bundle' the tickets, or otherwise had a greater role, will face increased penalties." The NFL will enhance its mandatory compliance training ahead of the Super Bowl in 2026, which will be held at Levi's Stadium in Santa Clara, California, according to the memo. Super Bowl tickets are among the most coveted in all of North American professional sport, with fans routinely shelling out thousands of dollars to attend the NFL's championship game that is watched religiously by millions across the U.S.
