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Article: Consumer confidence, housing buoy stocks
- Article from:
- New Haven Register
- Article date:
- August 26, 2009
- Author:
CopyrightCopyright 2009 New Haven Register. Provided by ProQuest LLC. (Hide copyright information)
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NEW YORK -- A rebound in consumer confidence and more healing in
the housing industry have put stocks back on an upward path. Banks,
retailers and homebuilders were Tuesday's biggest winners, helping
to lift the major indexes about 0.3 percent.
Though investors were pleased by better-than-expected readings on
consumers and housing, trading was choppy, as it has been over the
past week.
Stocks rose after the Conference Board said its Consumer
Confidence index jumped to 54.1 this month from an upwardly revised
47.4 in July. That was far above the 47.5 reading analysts expected.
The report suggests Americans' pessimism about the economy is
abating.
Meanwhile, the Standard & Poor's/Case-Shiller ...