June marks the second straight month that the University of Michigan's measure of consumer sentiment increased month-over-month after understandably dropping in March and April. The overall score of 78.9, while not great, is about the same as when we were well on our way, in 2013, out the Great Recession.

 

The survey's tally for "current conditions" hit 87.8 - more than 13 points above its low point. Consumers' perception of their own household finances in the most recent report was 112.0, which is higher than the 3-month moving average of 108.3.

These results "perhaps reflect the swift recovery in the stock market," states the Wells Fargo Economics Group. "This is consistent with what we saw in yesterday's release of household net worth figures from the Fed's flow of funds report. The Q1 snapshot reflects March lows. If gains hold, this will rise."