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The Conference Board said Tuesday that its index of consumer confidence rose to 90.9 this month from a reading of 86.4 in June. Analysts expected the index to decline to 85.3 in July.
A separate report showed homeownership in the United States hit a 19-year low in the second quarter as more Americans opted to rent, pointing to continued challenges in the housing market.
Meanwhile, investors are primarily focused on the Federal Reserve's upcoming policy meeting, due to begin later in the day. The Fed is likely to stick to its timetable to taper its monthly bond purchases by another $10 billion to a total of $25 billion a month.
Wednesday’s preliminary estimate on second quarter economic growth and Friday’s release of the July non-farm payrolls are also in focus, with data expected to indicate that the economic recovery is continuing, albeit at a sluggish pace.
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Market News Archive
This week, Brian takes viewers back to basics with an explanation of how the various inflation and the specific differences between the consumer price index and the personal consumption expenditures index measures. Plus, Mike Getlin, CEO of Merit Gold joins...watch more
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