Negative Nancy Is Back in June (Updated)

So much for the confidence rally. June is apparently National Shopper Pessimism Month.

The Conference Board Consumer Confidence Index, which had shown considerable improvement in May, retreated again this month. The Index dropped to 49.3 from 54.8 in May.

The news sent the S&P Retail Index down 1% to 321.85 in afternoon trading. Notable decliners include Target(TGT Quote), which fell 1% to $39.24, Macy's(M Quote), which slipped 2% to $11.66, Sears(AIG Quote), which dropped 2% to $66.58 and Kohl's(KSS Quote), which decreased 2% to $42.65. ...