U.S Consumer Sentiment Index fell from 88.3 in April to 82.8 in May, according to the University of Michigan press release.
- The fall in confidence reflects rising consumer price fears, with inflation climbing 0.8% in April to mark a 4.2% annual jump, the highest since September 2008.
- Current Economic Conditions Index fell to 90.8 in May from 97.2 in the previous month.
- Consumer Expectations Index plunged from 82.7 in April to 77.6 in May.
- 1-year inflation outlook is now seen to climb to 4.6%.
SPY is up 1.32%, QQQ is up 1.84%, EURUSD is up 0.48%.
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