Good day for: Confidence, as the national mood is brightening. Consumer confidence rose this month to its highest level since September. The Reuters/University of Michigan final index of consumer sentiment climbed to 68.7 -- a bigger jump than expected given a worse-than-expected business slump -- from 65.1 in April. "The worst of the recession has passed," said Nomura Securities chief economist David Resler, "but it will take some time before we will see anything close to normal conditions." (Bloomberg)
Bad day for: Overconfidence, as oil prices hit a six-month high above $66 a barrel. If the sharp rise from late 2008 lows near $30 a barrel continues, the recent rebound in consumer confidence could be reversed. That's because oil price hikes translate into higher prices at gas pumps -- a sure way to dampen the mood of consumers. (Yahoo Finance)
THE WEEK'S AUDIOPHILE PODCASTS: LISTEN SMARTER
- The U.S. is about to sell weapons to Vietnam. That's bad news for China.
- Why is the Pentagon stuffing caves in Norway full of tanks?
- What the Middle Ages can tell us about the GOP's big charity myth
- An open letter to #brands about Gamergate
- 43 TV shows to watch in 2014
- Did the media get Ferguson wrong?
- The most sensible GOP alternative to ObamaCare comes from a Senate candidate who is almost sure to lose
- 'Having it all' has officially jumped the shark
- Painting the universe's portrait
- Did Republicans overshoot on the Ebola panic?
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