More bad news on the economic front.
US Consumer Confidence Tumbles in August
U.S. consumer confidence fell sharply in August, breaking four straight months of gains, as a slowdown in job creation and rising oil prices weighed on sentiment... The Conference Board, a private forecasting group, said its measure of consumer confidence fell to 98.2 from a revised 105.7 in July... The present situation index fell to 100.7 from 106.4, while the expectations index fell to 96.6 from 105.3.
I actually thought the numbers weren't too bad, considering the recent poor job numbers and the oil price increases earlier in the month. But it certainly puts further doubts on the sustainability of consumer spending growth.