Consumer confidence rises, but so do oil prices
Good day for confidence, and a bad day for overconfidence
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)
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
Scientists want to fight malaria by poisoning mosquitoes with human blood
Under the radar Drugging the bugs
By Devika Rao, The Week US Published
-
Crossword: March 31, 2025
The Week's daily crossword
By The Week Staff Published
-
Sudoku medium: March 31, 2025
The Week's daily medium sudoku puzzle
By The Week Staff Published