US consumer confidence climbs to February 2008 high

(Source: Yahoo! Finance)

US consumer confidence has risen from 69 (revised from 68.1) to 76.2 in May, its highest level since February 2008. Analysts had expected an increase to just 71.0. The Dow Jones Industrial Average is up nearly 200 points on the news.

The US Richmond Fed index disappointed, rising from -6 to just -2, despite forecasts of a climb into positive territory, with a median estimate of +2.