Unfortunately this is just a straw fire and will end in 2 months with reality biting back even uglier than before as all trends end always in exaggeration and we did not see an extreme for this bear yet and things keep getting worse - house prices keep falling as the core problem their driver jobless claims keep rising. Another fact which confirms me in my view is the fact that we are about to get some of the ugliest constellations in astrology over the next 2 years which are the ones we had 1930-32 in a bit different set up even more challenging as the FED is involved. The T-Square due in a few months is on the FED's Sun / Pluto opposition which bears a huge risk for them being wiped out or challenged in a catastrophic way.
Consumer Confidence Sees Biggest Jump in 6 Years
U.S. consumer confidence soared in May to its highest level in eight months as severe strains in the labor market showed some signs of easing, though Americans' moods remained depressed by historical standards.
The Conference Board, an industry group, said on Tuesday its index of consumer attitudes jumped to 54.9 in May from a revised 40.8 in April, the biggest one-month jump since April 2003.
Economists had been looking for a much smaller rise to 42.
Fewer Americans said jobs were "hard to get," the survey found, with that measure slipping to 44.7 percent from 46.6 percent. Those saying jobs were plentiful climbed to a still meager 5.7 percent, but that was still higher than April's 4.9 percent.
"Consumers are considerably less pessimistic than they were earlier this year," said Lynn Franco, director of The Conference Board's Consumer Research Center.
The data was in line with other evidence suggesting that, while the economy continues to contract in the current quarter, the pace of deterioration has abated somewhat.
U.S. stocks extended their rally after the data, with the Dow Jones industrial average up 120 points or 1.5 percent.
The survey offered mixed messages regarding Americans' propensity to spend money.