Bloomberg News

Stocks in U.S. Extend Gain as American Consumer Confidence Tops Forecast

February 28, 2012

U.S. stocks extended gains after a gauge of consumer confidence topped estimates, overshadowing an earlier report showing a bigger-than-forecast decrease in durable-goods orders.

The Standard & Poor’s 500 Index rose 0.3 percent to 1,371.18 at 10:01 a.m. in New York.

The Conference Board’s confidence index increased to 70.8 from a revised 61.5 in January, figures from the New York-based private research group showed today. Economists predicted the gauge would climb to 63, according to the median estimate in a Bloomberg News survey.

To contact the editor responsible for this story: Michael P. Regan at mregan12@bloomberg.net


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