The most optimistic market action is probably in that XLY consumer ETF. Though its components are largely large-cap companies across a broad consumer spectrum (McDonalds, Disney, Target, Ford, Comcast, etc), the ETF has rather quietly gotten back close to its 2007 highs.
The negative Nellies out there can point to their own stats: oil falling, home prices stagnant, NFIB small business survey still weak, Marriott and the cruise company shares down, etc. And yes, we still have a warehouse full of economic problems.
This isn’t about being an economic Pollyanna, and ultimately there are a host of reasons why people buy stocks. But returns are returns, and agree with it or not, the message of the market appears to be one of more confidence in the consumer, and thus the economy, ahead.