Economic Reports Send Mixed Signals
Contradictory reports of faltering consumer confidence and rising home sales painted a confused picture of the economic outlook Tuesday.
The Conference Board, a private research group, said its index of consumer confidence slumped nearly 6 points in June to 97.6, the lowest since an 88.4 reading in January.
Forecasters had been expecting a slight rise.
But the National Association of Realtors, a trade group, said sales of pre-owned homes rose 1.4 percent in May, tying a record set more than two years ago.