NEW YORK, Oct 12 (Reuters) - U.S. consumer sentiment unexpectedly rose in October to its highest level in five years as optimism about the overall economy improved, a survey released on Friday showed.
JACOB OUBINA, SENIOR U.S. ECONOMIST, RBC CAPITAL MARKETS, NEW YORK
"Certainly the rise in sentiment is a surprise to us and especially in the context of high oil prices as well as the fact that equities pretty much languished. You have to wonder how much politics could be involved. This flies in the face of more fundamental factors that should be driving sentiment. This could also be related to the drop in the unemployment rate, which got a lot of headlines last week."
WAYNE KAUFMAN, CHIEF MARKET ANALYST AT JOHN THOMAS FINANCIAL IN NEW YORK
"The consumer hasn't been the big problem that people are worried about. Consumer-related stocks are one of the decent areas of the market, both discretionary and staples. The consumer is hanging on."
COMMENTS: STOCKS: U.S. stocks added to their gains .
(Americas Economics and Markets Desk; +1-646 223-6300)
Keywords: USA ECONOMY/CONFIDENCE