CONSUMER CONFIDENCE JUMPS

The University of Michigan's consumer confidence report will be released at 9:55 a.m. ET.

Economists estimate this index of sentiment to registered at 80.0 in August, down from 81.8 in July but up from a preliminary estimate of 79.2. "

If [79.2] sustained for the month as a whole, this would be the lowest level on the consumer sentiment index since November 2013," noted Credit Suisse economists. "But if equity markets continue to recover from their early-month swoon and geopolitical fears stabilize, we may see a slightly higher final sentiment reading for August. Lower gasoline prices probably are still helping to boost sentiment, as well."

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