RJ and Makay

U.S. consumer sentiment is at its highest point in three years, suggests the latest reading of the Consumer Confidence Index (CCI). The CCI rose to 70.4 this month, up from 64.8 in January as Americans expressed more optimism about their earning potential and the direction of the economy. It's the strongest CCI reading since the early days of the latest recession in 2008.

Several factors are helping to boost consumer sentiment such as a robust stock market, falling unemployment, and rising incomes. "Since November there has been a gradual improvement in the consumer mood, but it's not happy days are here again," warns economist Chris Christopher of IHS Global Insight. "Household net worth is still about $10 trillion below its peak, and with what's going on in the housing market, it doesn't look like that's going to improve anytime soon."