Summary Box: Consumer confidence gain lifts stocks

AP News
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Posted: May 27, 2011 4:55 PM
Summary Box: Consumer confidence gain lifts stocks

CONFIDENCE BOOST: A decline in gas prices this month helped Americans feel more confident about the economy. The Thomson Reuters/University of Michigan Consumer Sentiment index came in above analysts' estimates.

HIGHER INCOME: The Commerce Department reported that personal income and spending each rose 0.4 percent in April, another hopeful sign that consumers might become more willing to buy more.

DOWN WEEK: Major indexes are still down slightly for the week, extending their weekly losses to four. The Dow is off 0.6 percent, and the S&P 500 and Nasdaq are both down 0.2 percent.