Economic reports published Tuesday show a mixed picture for the U.S. recovery. Despite steady improvement in the job market, manufacturing orders declined last month and home prices fell.
American consumer confidence is at a 12-month high. Unemployment has fallen to pre-crisis levels and Greek debt is fading into the background - at least for now. But even as rising stock prices fuel confidence in a sustainable recovery - higher gasoline prices threaten to crimp consumer spending.
"I think what's driving this is number one: better than appreciated oil demand growth, that's the scene setter, if you will," said Jan Stuart, head of energy research at Credit Suisse.
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