This is unexpected but welcomed news. The stock market reversed large losses on this news as well as the Case-Shiller Home Index which showed that although home prices declined again in February the decline was less than January's. Remember the market is judging that less bad is good.-Lou
Consumer confidence soars in April
NEW YORK (AP) -- Hopeful signs that the worst may be over for the economy boosted Americans' moods in April, sending a closely watched barometer of sentiment to the highest level since November.
The New York-based Conference Board said Tuesday that its Consumer Confidence Index rose more than 12 points to 39.2, up from a revised 26.9 in March. The reading marks the highest level since November's 44.7 and well surpasses economists' expectations for 29.5.
Some encouraging news in areas like retail sales and housing have helped fuel a recent stock rally. Earlier Tuesday, a housing index showed that home prices dropped sharply in February, but for the first time in 25 months the decline was not a record -- another sign the housing crisis could be bottoming.
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http://finance.yahoo.com/news/Consumer-confidence-soars-in-apf-15054028.html?sec=topStories&pos=main&asset=&ccode=
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