Consumer confidence index and inflation data set for release this week

The Conference Board will release its consumer confidence index for October on Tuesday. Last month, confidence dropped due to job concerns. Economists expect the index to remain steady at around 98.9, indicating a stable economic outlook. On Thursday, the government will publish a consumer spending report, which is expected to show inflation easing to 2% in September. This aligns with the Federal Reserve's target rate, following recent interest rate cuts aimed at controlling inflation. The Labor Department will issue its October jobs report on Friday. Economists predict a significant drop in job additions, estimating around 125,000, compared to a stronger gain of 254,000 in September.