U.S. consumer confidence dips unexpectedly

Despite a rising stock market, consumers continue to display a cautious stance toward the U.S. economy. Consumer confidence unexpectedly dipped in September to 53.1 from 54.5 in August, the Conference Board announced Tuesday, with the index driven lower by concern about jobs and business conditions.

A Bloomberg Newssurvey of economists had expected the index to rise to 57.0 in September; it totaled 47.4 in July and 44.8 in June. The index hit a record low of 25.3 in February. (Base year, 1985=100.)