Doreen Mogavero, president and CEO of Mogavero Lee & Co., discusses consumer confidence data released Tuesday ahead of the revised GDP issued Thursday, as well as consumer spending and consumer sentiment announced Friday. 

Consumer confidence jumped in May to its highest level in more than five years as optimism increased about the state of the economy and its prospects for the rest of the year, according to the Conference Board's Consumer Confidence Index released Tuesday. The Index surged to 76.2 in May from the previous month's upwardly revised reading of 69.