Confidence Boost? Dow Gains 125 Points as Consumers Party Like Its 2000

Stocks have erased their early losses today after consumer confidence surged to its highest level since 2000 . The S&P 500 has risen 0.6% to 2,355.90 at 1:15 p.m. today, while the Dow Jones Industrial Average has gained 122.59 points, or 0.6%, to 20,673.57. The Nasdaq Composite has advanced 0.5% to 5,866.97. If the gains hold, the Dow's eight-day losing streak will come to an end. The Conference Board‘s reading on consumer confidence jumped to 125.6 in March, better than the 114 predicted by economists . Jefferies economist Thomas Simons assesses the blockbuster number: