Consumer Mood Improved Last Week

From Gallup:

Gallup’s Consumer Mood Index rose sharply over the last week, to -90 for March 13-15. This is up from -120 a week ago and is the most positive the Index has been since mid-September 2008. The increase is commensurate with the four-day consecutive gains in the Dow Jones Industrial Average, beginning last Tuesday, and also with the Obama administration’s recent emphasis on more positive views of the economy.

This may translate in improved readings on retail sales and PCE as well. It is a bit difficult to find reasons to sell stocks in the short term. We should be seeing more positive news as the stimulus impacts the economy some time soon.