Economic News Eases Fears, Buoys Stocks (at CNBC)

STOCKS, EARNINGS, ECONOMY, REAL ESTATE, BANKS Stocks rose Friday after some robust economic data, including a rebound in consumer confidence and an unexpected increase in durable-goods orders. Consumer sentiment improved in July from the prior month, when sentiment was at the lowest since in the early 1980s, helped by the tax-rebate checks. Reuters and the University of Michigan said their gauge of consumer sentiment jumped to 61.2 in July from 56.4 in June. Economists had expected the measure to be little changed. Durable-goods orders rose 0.8 percent in June, the Commerce Department reported. That was much better than the 0.3-percent drop economists had expected. Excluding transportation, orders rose 2 percent. A gauge of business spending increased 1.4 percent. Robert Brusca of FAO Economics cautions not to "judge a book... [read full story]