"Consumers had a much improved view of job prospects, not immediately, but six months from now"
- John Lonski, chief economist at Moody's Capital
U.S. consumer confidence unexpectedly rose in July as Americans became more optimistic on the nation's economic outlook, the Conference Board Inc. said on Tuesday. An index of sentiment increased to 65.9 from 62.7 in June.
"While consumers expressed greater optimism about short-term business and employment prospects, they have grown more pessimistic about their earnings," said Lynn Franco, director of economic indicators at the Conference Board.
"Consumers had a much improved view of job prospects, not immediately, but six months from now," said John Lonski, chief economist at Moody's Capital.
The Standard & Poor's 500 erased 0.43%, or 5.98 points, to 1,379.32. The Dow Jones Industrial Average fell 0.49%, or 64.33 points, to 13,008.68. The Nasdaq Composite lost 0.21%, or 6.32 points, to 2,939.52.
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