Consumer confidence climbed to a 16-month high in November, buoyed by rising stock prices, slowing inflation and a robust U.S. jobs market. The index of consumer confidence rose to 111.7 from a revised 109.

The latest index reading from the Conference Board was 111.7 in November, above the 109.6 seen in October and the highest level in more than a year. The expectations index, which is based on consumers' short-term outlook for income,