US confidence jumps in July

From CNBC.com:

Consumers were more confident about the economy in July than they have been in at least six years, The Conference Board said Tuesday, as stock markets float near record highs and expectations build for the recovery.

The Conference Board's Consumer Confidence Index rose to 90.9, above the prior month's showing of 86.4.

That was its highest level since October 2007, and well above economists' expectations of an 85.3 reading, according to a consensus survey...

Capital Economics suggested in a research note the big jump in confidence appeared "a bit suspicious," even in light of falling gas prices.

"Admittedly, it might be that the Conference Board's survey captured more of the most recent drop back in gasoline prices.

But we still wouldn't be surprised if this index dropped back in August," wrote Paul Ashworth, chief U.S. economist, in a research note to clients.

Recent economic data have painted a decidedly uneven picture of the economy.

While key measures favored by the Federal Reserve are consistent with a broad recovery, others have reflected signs of a setback.

On Monday, data showed that home prices fell unexpectedly in May.
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Link: http://www.cnbc.com/id/101875607