According to a Reuters report, the reading on current economic conditions fell to 80.7 in April from 82.4 in March. The consumer expectations reading fell to 62.3 from 67.9, according to Reuters. Also according to Reuters, the one-year inflation expectation index rose to 2.9% from 2.7%
The latter is a problem, as it is well over The Fed's desired 1-2% range.
Nor is the expectations number from Reuters good.
The sentiment index fell to 69.5, which was wildly off expectations of 75 - that is, the market expected improvement and got serious deterioration instead.
But the barkers on CNBS continue to pump stocks, and suck in retail buyers - especially the crazy speculators in the options market:
I'm compelled to take the other side of this bet.