Consumers More Upbeat in February, Key Index Surprises Econo

February 25, 2011

Consumer sentiment gained in February, as economic prospects brightened, surprising analysts and providing additional lift for stocks. The Thomson ReutersUniversity of Michigan index rose to 77.5 up from 74.2 in January. An earlier reading pegged the index at 75.1, while economists were looking for a final February reading of 75.4, according to a MarketWatch poll. Stocks are moving higher on the news, with the Nasdaq Composite leading, up 1.18%; the S&P 500 is up 0.86% and the Dow Jones Industrial Average is up 0.53%.