Annual home prices rise to 7 year high; consumer confidence at 5 year high

There might be something to that theory that an improving economy is shielding the president from scandal fallout. Two closely watched indices of the economy showed marked improvement last month. The annualized prices for single family homes hit a 7 year high last month and the Conference Board's consumer confidence index hit a 5 year high in April. When housing prices rise, homeowners feel richer and are more willing to spend money. That may be reflected in the consumer confidence index as well. USA Today: Benchmark indexes jumped Tuesday morning with the Dow Jones industrial average up more than 200 points. The Dow, the Standard & Poor's 500 index and the Nasdaq composite index popped about 1.5% higher in the first hour of trading. The strength of the rally surprised market-watchers, many of whom have been predicting some kind of pullback or correction after stocks have set record after record closing highs in 2013. Some of the bullish sentiment was fueled by a report...(Read Full Post)