RJ and Makay

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U.S. home values dropped for the fifth month in a row to their lowest level since 2003, according to the S&P/Case-Shiller Index. The rolling three-month index, which is a composite of home prices in 20 U.S. cities, fell 0.8% in January.  And over the past 12 months, prices have fallen 3.8% despite signs of an economic recovery.  Of the twenty metropolitan areas in the index, only Miami, Phoenix and Washington D.C. saw increases.

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Consumer confidence in August fell to its lowest level in more than two years, according to Tuesday’s Conference Board report. High unemployment, partisan wrangling over the budget, and volatile stock markets sank the index to 44.5 from a downwardly revised 59.2 in July, the lowest level since April 2009.  It was the biggest month-to-month point drop since October 2008.

Chief executives' confidence in the economy is up again, shows the latest reading on the Conference Board Measure of CEO Confidence. The measure rose to 67 in the first quarter, up from 62 in the fourth quarter of 2010. A reading above 50 indicates a positive outlook, the Conference Board says.

“CEOs’ confidence has improved, yet again, and expectations are that the economy will continue to expand in the coming months,” remarks Lynn Franco, director of The Conference Board Consumer Research Center. “As for the employment outlook, CEOs are more bullish than last year, with half now saying they intend to ramp up hiring.”