US consumers went from a ten month low in confidence in June to a six month high in mid July, apparently. What is the reason for this euphoria? Is it something I missed? There have been subprime woes, hedge fund woes, CDO woes, and consumers have been spending only while savings fall (taking on debt to spend). But they're not putting their money where their mouths are, according to this:

"U.S. consumers put away their wallets in June, sending retail sales plunging by the sharpest amount in nearly two years... Two gauges of consumer confidence gave conflicting signals Friday. The RBC Cash Index fell to its lowest point in nearly a year while the University of Michigan/Reuters survey rebounded to a six-month high, an increase attributed to a temporary retreat in gasoline prices in late June and early July."
U.S. retail sales take sharp plunge

On Friday, an upbeat report on the mood of consumers released after trading began seemed to inject the market with additional confidence. The Reuters/University of Michigan index of consumer sentiment increased to a six-month high of 92.4 for mid-July from 85.3 in June.
Dow Ends Amazing Week by Nearing 14,000

U.S. consumer sentiment improved slightly in late June from earlier in the month as gasoline prices ebbed, but confidence finished the month at its lowest since August 2006.
U.S. consumer sentiment ends June at 10-month low