Jeffry Bartash of MarketWatch is reporting that the U.S. consumer confidence index climbed to a two-year high. Bartash writes:

Consumer confidence jumped in January to a two-year high of 114.8, a survey showed, reflecting slower inflation, a record stock market and improved growth in the economy.

The closely followed index advanced from a revised 108.0 in December, the Conference Board said Tuesday.

Economists polled by the Wall Street Journal had forecast the index to register 115.0.

The last time the index was higher was in December 2021. […]

And the next move by the Federal Reserve on interest rates is widely expected to be a reduction, making it easier for people to buy homes or companies to borrow. The first rate cut is likely in the spring or early summer.

Read more here.