Confidence of the US spender rises.

US consumer confidence is boosting equity performance, even if it is only short-term, according to new figures.

The US Conference Board's measure of sentiment increased to 103.4 in January from 102.7 in December, giving the Dow Jones its biggest gains of the year so far.

This upturn in confidence by US consumers is reflected in the buoyant housing market. Despite the Federal Reserve raising interest rates to 2.25 per cent last month and further rate rises expected this year, the low savings rate of 0.3 per cent has helped property buyers.

However, the growing trade deficit …