BREAKING: Trump scores big win with new US consumer sentiment report
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Consumer sentiment rocketed to its highest level in 15 years in early May as Americans grew more upbeat on the health of the economy and its path in 2019, according to data released Friday.
The University of Michigan’s preliminary print on its consumer sentiment index rose to 102.4, up from 97.2 in April and well ahead of economist expectations of 97.5.
“Consumers viewed prospects for the overall economy much more favorably, with the economic outlook for the near and longer term reaching their highest levels since 2004,” said Richard Curtin, chief economist for the Surveys of Consumers. “To be sure, negative references to tariffs rose in the past week and are likely to rise further in late May and June.”
Soon after the news hit, CNBC issued another report stating that the Dow has shot back up to erase morning losses:
Stocks recovered earlier losses on Friday after the release of stronger sentiment data quelled trade fears.
The Dow Jones Industrial Average traded 19 points higher, erasing a 204-point drop, while the S&P 500 was up 0.1%. The Nasdaq Composite traded just below breakeven.
For more details, click the links below:
— CNBC Now (@CNBCnow) May 17, 2019
— Marc Lotter (@marc_lotter) May 17, 2019
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