US Consumer Confidence Soars, Business Spending Dips

US consumer confidence is at its highest level in 7.5 years as Americans feel better about the overall economy and the job market. The Conference Board reported today the confidence index reached 102.9.

US durable goods orders fell in December for the fourth straight month, a sign business spending is down. Orders dropped 0.6% - economists had expected a 0.5% gain.

Mitsubishi Motors Corp. and Renault SA have decided not to move forward with a partnership to manufacture sedans for the US market after a feasibility study showed lackluster results.

The East Coast has turned into a near “no fly zone” last night and today due to blizzards. Nearly all flights out of New York, Boston and New Jersey major airports were canceled.

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