US consumer confidence beats expectations in August

US consumer confidence jumped from 90.9 to 101.5 in August, well ahead of expectations for a 93.4 reading

The figure is the second-highest consumer confidence reading since the recession.

“If the markets of Europe and the US can stabilize over the coming days, consumer confidence will likely remain relatively unaffected. More worrying could be the oil price plunge that will certainly affect local economies in Texas and Oklahoma," said Dennis de Jong, managing director at UFX.com

“Yet, Yellen will know that cheaper gas means cheaper prices at the pumps, which may balance out any stock market ramifications.”