CNBC's Rick Santelli breaks down the latest economic data to cross the tape on consumer confidence.

Washington

The Conference Board's latest consumer confidence index was reported at 97.4, surpassing the estimated 96.6. However, this figure was not higher than the revised July reading of 98.7. The present situation index stood at 131.2, slightly down from 132.8 previously, while the expectations index was 74.8, also lower than the prior upwardly revised figure of 76.0.

On the manufacturing front, the Richmond Fed index improved to minus 7, better than the expected minus 11 and the best since March. The service sector showed a positive reading of up 6, rebounding from minus 8. Treasury yields remained largely unchanged following the release of the data, with upcoming government note auctions scheduled.

Consumer confidence comes in at 97.4 vs. 96.6 estimated

New consumer data just crossing. Let's get to Rick Santelli who has that for us. Rick. Yes, David. This is the August read on consumer confidence from the conference board. 97.4 is the headline. Better than expected. However, not sequentially higher than the big revision. Last month, 97.2 now becomes 98.7. And if we look at the present situation, 131.2, that follows 132.8. And finally, expectations, 74.8. And it is following an upward revise, 76.0. So not one is sequentially higher than our final July reads. Now on Richmond Fed, on the manufacturing side, minus 7. That's a little better. We're expecting minus 11. What's interesting here is that is the best read since it was minus 6 in March of this year. Comping to a negative number, never good. But if we go to the business side, the service side, a little bit better, a positive number. Up 6, that follows minus 8. Up 6 would be the best. Well, just since June we were positive 14. If we look at the market, right now we're at 369 in a two year. That's where the market was before the 830 data. And before this data, it hasn't really moved much. It's down 4 basis points. 8 tenure at 428, similar. It's really been hovering right at that level. We do have auctions at 1 eastern. Today it'll be a two year note, 69 billion. Tomorrow, 5 years at 70 billion. Followed by Thursday, 44 billion, 7 years. Mike Santoli, back to you. Rick, thank you very much.

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