Consumer confidence surges in July

Consumer confidence is soaring on the strength of a warming job market, climbing to its highest level in almost seven years, the Conference Board said Tuesday.

Its Consumer Confidence Index reached 90.9 in July, up from 86.4 in June. It was the third straight monthly increase and the best reading since October 2007. Tuesday's report solidly beat economists' median forecast for a reading in the mid-80s.