Analysts expect that American consumers’ confidence fell for the third straight month under the weight of high interest rates, lingering inflation and geopolitical crises. Last month’s most troubling sign was the decline in the index measuring future expectations, which tumbled to 73.7. Readings below 80 for future expectations historically signal a recession within a year.Apple reports its fourth-quarter sales and profit figures on Thursday after markets close.
Analysts expect Apple made $1.39 per share on sales of $89.3 billion. In the third quarter, Apple eked out a slightly higher profit, though sales dipped during the period. It was the third consecutive quarter of falling revenue for the Cupertino, California company, its longest stretch of falling sales in nearly seven years.Despite the Federal Reserve’s effort to tame inflation and cool the economy by raising interest rates, the labor market has held strong. In September, U.S.
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