Stock Market Update
08-May-26 10:35 ET
Preliminary University of Michigan Consumer Sentiment Index
Dow +102.48
at 49699.45,
Nasdaq +295.33
at 26101.52,
S&P +53.92
at 7391.03
[BRIEFING.COM] The S&P 500 (+0.7%), Nasdaq Composite (+1.1%), and DJIA (+0.2%) are maintaining their opening gains as tech provides solid leadership while strength begins to broaden.
The preliminary reading for the University of Michigan Consumer Sentiment Index for May dropped to 48.2 (Briefing.com consensus: 50.5) from the final reading of 49.8 for April. In the same period a year ago, the index stood at 52.2.
The key takeaway from the report is that consumers are clearly concerned about rising costs and their ability to out-earn the inflation.
