Consumer confidence takes leap

Consumer confidence in May jumped to 76.2, up from 69 in April. This is the highest since February 2008. Rising home values, a rising confidence in the economy, better employment numbers, and a robust stock market are encouraging consumers. Among wealthier Americans, the confidence index jumped to 95.1 from 85.3 in April. Supporting this feeling of confidence has been the rally of the stock market that has replaced the $16 trillion in wealth that people lost in the Great Recession.