After the announcement that consumer confidence had rose form 69.0 in April to 76.2 this month - its highest reading in five years - the Dow Jones Industrial average saw a 200 point gain in the market on Tuesday morning.
As investors embraced the economic data that seemed to put the worst of the recession behind us, U.S. stocks saw a major surge when the Dow Jones and the S&P 500 rose at about 1.4 percent.
The Nasdaq saw an even greater response at 1.6 percent, and the 10-year Treasury reported a surge well above 2.1 percent, reported CNN Money.
The Conference Board, leaders in gauging business and economic data, sent out a press release:
"Consumers appraisal of present-day conditions improved in May. Those saying business conditions are 'good' increased to 18.8 percent from 17.5 percent, while those stating business conditions are 'bad' decreased from 26.0 percent from 27.6 percent. Those claiming jobs are 'plentiful' increased to 10.8 percent from 9.7 percent, while those claiming jobs are 'hard to get' edged down to 36.1 percent from 36.9 percent."
Global businesses play a huge part in this resurgence.
International Business Times reports that "U.S. stock index futures rose, boosted by resurgent Asian and European markets."
Earlier this year, consumer confidence suffered, as Americans were feeling distressed about the effects of the automatic government budget cuts.
But as business conditions improve and more jobs become available, consumers have shown an optimistic short-term outlook, and markets have seen considerable upbeat trends, said Lynn Franco, The Conference Board's director of economic indicators.
According to their official website, The Conference Board is "a global, independent business membership and research association working in the public interest. [Their business] is unique: To provide the world's leading organizations with the practical knowledge the need to improve their performance and better serve society."
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