NEW YORK — Americans are looking past the stock market surge and signs of a stabilizing economy and focusing on something more personal — job worries.

Consumer confidence fell this month, the Conference Board said yesterday, presenting a big obstacle for already hammered stores as they head into the critical back-to-school season.

The confidence index fell to 46.6, down from 49.3 in June and weaker than what economists were expecting. It takes a reading above 90 to signal Americans believe the economy is on solid footing. It was the second straight month of declining confidence.

PRICES OF HOMES INCREASED IN MAY

NEW YORK — There were fresh signs yesterday that home prices in much of the country are stabilizing and the housing market is on the mend.

Home prices in May posted their first monthly increase since the summer of 2006, according to the Standard & Poor's/Case-Shiller 20-city index. Prices rose from April in 13 of the cities tracked, notably Cleveland, Dallas and Boston.

The news follows upbeat reports showing sales of newly built and existing homes rose in June for the third straight month. And new home construction, while still weak, is the best it's been since the fall.

The 20-city home price index rose 0.5 percent from April to a reading of 139.8, but was still 17.1 percent below the reading of 168.6 in May a year ago.

U.S. WEIGHS LIMITS ON ENERGY TRADING

WASHINGTON — With consumers hit by oil price swings, federal regulators may be moving toward imposing limits on speculative energy trading, which some blame for price volatility.

The head of the U.S. agency weighing new curbs yesterday faulted "excessive" speculation but also underscored the role of financial investors in helping set fair prices that can benefit consumers.

Gary Gensler, chairman of the Commodity Futures Trading Commission, said his agency must "seriously consider" imposing stringent limits on speculative trading of energy futures contracts, a move that would mark a major shift for the government.

SPRINT NEXTEL DEALS FOR VIRGIN MOBILE

NEW YORK — Sprint Nextel Corp. is intensifying its focus on the fast-growing market for prepaid cell phone service with a $483 million deal to buy Virgin Mobile USA Inc.

The acquisition announced yesterday calls for Sprint to pay $5.50 in stock for each Virgin Mobile share. Sprint already owned 13.1 percent of Virgin Mobile, which uses Sprint's network to offer service.

The offer comes at a 31 percent premium to Virgin Mobile's closing share price Monday of $4.21. The shares closed up $1.07, or 25.4 percent, to $5.28 yesterday.

REBATES LURING 'CLUNKER' OWNERS

NEW YORK — Car and truck owners looking to junk their gas guzzlers are flocking to dealerships to take advantage of the government's "cash for clunkers" program and buy more fuel-efficient vehicles, boosting sales in showrooms across the country.

The program — officially called the Cash Allowance Rebate System, or CARS — took effect over the weekend at the nearly 20,000 car dealers who have signed up with the Department of Transportation. The program offers rebates of $3,500 to $4,500 for car shoppers who scrap their old vehicles to buy ones with better gas mileage.

IBM ACQUIRING SOFTWARE PROVIDER

SAN FRANCISCO — IBM Corp. is bulking up its most profitable division with a $1.2 billion acquisition of business software provider SPSS Inc., a deal that also reflects the power of wealthy technology companies to throw their money around despite the recession.

The all-cash deal announced yesterday represents a 42 percent premium over Chicago-based SPSS's closing price of $35.09 on Monday.