Consumer Comfort in U.S. Stays Elevated Even as Stocks Fall

U.S. consumer comfort last week held near the highest level since 2001 even as stocks fell on concerns about higher interest rates, the Bloomberg Consumer Comfort Index showed Thursday.

The results suggest that it would take a more sustained sell-off in the stock market to a make dent in consumer sentiment. The latest poll was completed Sunday, following last week’s 4 percent decline in the Dow Jones Industrial Average -- the biggest drop since early 2016 -- but before Monday’s 4.6 percent rout. The Labor Department’s employment report last Friday, whose data on unexpectedly strong wages spurred concern about rising interest rates, also showed how solid hiring and pay will continue to buttress consumer confidence and spending.