S&P 500
7,226.20
+0.01%
Dow Jones
49,494.60
-0.62%
Nasdaq 100
27,685.40
+0.66%
Russell 2000
2,804.78
-0.02%
FTSE 100
10,364.50
0.00%
Nikkei 225
59,260.50
-0.78%

Retail

Confidence in Technology Rises to All-time High

Photo of Paul Ausick
By Paul Ausick Updated Published
Follow 24/7 Wall St. on Google
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

Apple mobile/touch devices
courtesy of Apple
The Consumer Electronics Association (CEA) said this morning that its index of consumer technology expectations rose 9.3 point in December, lifting the index to an all-time high of 97.3 since the survey was started in January 2007. The index has gained 3.7 points year-over-year.

According to the CEA’s chief economist:

Technology products are the most wanted gifts this holiday season, and we’ve seen a tremendous amount of activity, with several new product launches over the past few months. Consumers are increasingly dedicating a significant portion of their overall gift budgets to electronics, which has crowded out other categories for holiday gift spending.

The CEA’s take on holiday spending on consumer electronics items is reinforced by other data from sources such as comScore Inc. (NASDAQ: SCOR), which reported last week that sales of digital media are up 22%, video games, consoles, and accessories’ sales are up 15%, consumer electronics gear including smartphones are up 15%, and computer hardware sales are up 14% over last year.

The CEA’s measure of consumer confidence in the overall economy also rose in November, to 171.1, up 8.5 points from October, and up 0.4 points year-over-year. As with nearly every other measure of consumer confidence, the impact of the approaching fiscal cliff weighs heavily on consumer sentiment.

Paul Ausick

Photo of Paul Ausick
About the Author Paul Ausick →

Paul Ausick has been writing for a673b.bigscoots-temp.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.

He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.

Featured Reads

Our top personal finance-related articles today. Your wallet will thank you later.

Fed’s Rate Freeze Could Sting for Social Security Recipients
Maurie Backman |

Fed’s Rate Freeze Could Sting for Social Security Recipients
'Convert $100,000 a Year to Get Them to the Top of the 22%': The Roth Plan for a Couple With $2.3M in 401(k)s
Jeremy Phillips |

'Convert $100,000 a Year to Get Them to the Top of the 22%': The Roth Plan for a Couple With $2.3M in 401(k)s

Continue Reading

Paul Ausick |

Holiday Spending on Electronic Gear to Hit $33.8 Billion

Holiday spending on consumer electronics gear like smartphones, tablets and game controllers is expected to increase.
Paul Ausick |

Electronics Group Says Consumer Confidence Highest in Three Years

The Consumer Electronics Association (CEA) reported that its Index of Consumer Expectations rose 4 points in January to 177.3. That’s…
Jon C. Ogg |

CES Looks to Strong Consumer Electronics Data To Kick Off 2012

Consumer confidence in the broad economy may have improved ahead of the holidays, but the Consumer Electronics Show in Las…
Jon C. Ogg |

Is Consumer Electronics Spending Immune To The Weak Economy?

The economy is still slowing.  Retail spending is spotty.  Housing is still in the toilet.  Unemployment remains at the nosebleed…
Paul Ausick |

Shoppers Snap Up Electronic Gadgets

ThinkstockOver the four-day Thanksgiving holiday weekend, U.S. consumers spent about a third of their gift-giving budgets on consumer electronics gadgets,…
As Stores Reopen, Are Customers Turning Away From Online Shopping?
Paul Ausick |

As Stores Reopen, Are Customers Turning Away From Online Shopping?

As U.S. retail stores re-open, consumer demand for online goods is trending down according to the latest data from Adobe…
Year-End Consumer Sentiment Hits 2-Year High
Paul Ausick |

Year-End Consumer Sentiment Hits 2-Year High

Consumer sentiment is closing 2019 at a two-year high according to research firm Morning Consult. How long can this go…
Father’s Day Spending Expected to Top $15 Billion
Douglas A. McIntyre |

Father’s Day Spending Expected to Top $15 Billion

Father's Day retail spending is expected to to reach a record $15.5 billion, according to the National Retail Federal.
Consumer Confidence Roars to 18-Year High Ahead of Holidays
Douglas A. McIntyre |

Consumer Confidence Roars to 18-Year High Ahead of Holidays

The U.S. economy continues to be a mighty engine. Consumer confidence reached an 18-year high this month.

Top Gaining Stocks

Cboe Global Markets
CBOE • Vol: 1,568,143
New Pluto Global
PSKY • Vol: 12,285,993
Seagate Technology
STX • Vol: 7,378,346
Oracle
ORCL • Vol: 26,317,675
Datadog
DDOG • Vol: 6,247,779

Top Losing Stocks

LKQ
LKQ • Vol: 4,367,433
Clorox
CLX • Vol: 13,260,523
Stryker
SYK • Vol: 4,519,455
Mohawk Industries
MHK • Vol: 1,859,865
Amgen
AMGN • Vol: 3,818,618