Reflecting the re-opening of the economy and the recent drop in unemployment claims, the Conference Board released a report on Tuesday showing a bigger than expected improvement in U.S. consumer confidence in the month of June. The Conference Board said its consumer confidence index jumped to 98.1 in June from a downwardly revised 85.9 in May.
A report released by MNI Indicators on Tuesday showed a continued contraction in Chicago-area business activity in the month of June. MNI Indicators said its Chicago business barometer rose to 36.6 in June from 32.3 in May, but a reading below 50 still indicates a contraction in regional business activity. Economists had expected the index to jump to 45.0.