Rise in consumer sentiment is another positive data point for economy

Don't look now but the U.S. economy is set to record another decent week. The stock market is about to post a weekly gain after surmounting the psychologically important Dow 8,000 level. The Q1 earnings season has, so far, not produced any "just dreadful" reports by large-cap companies. And consumer sentiment continues to trend in a positive direction.

The Reuters/University of Michigan Surveys of Consumers said consumer sentiment index for April increased to 61.9, from 57.3 in March and 56.3 In February, Reuters reported Friday. Economists surveyed by Bloomberg News had expected the index to rise to 58.5 in April. The index's record low of 51.7 was set in May 1980.