Latest news with #IndexofConsumerSentiment
Yahoo
2 days ago
- Business
- Yahoo
S&P 500 hits record high, consumer sentiment rises
The S&P 500 (^GSPC) and Nasdaq Composite (^IXIC) are hitting fresh record highs on renewed trade deal hopes. Also giving stocks a boost is the University of Michigan Index of Consumer Sentiment, which rose 16% in June. Yahoo Finance Senior Reporter Allie Canal reports on the latest market action. To watch more expert insights and analysis on the latest market action, check out more Market Catalysts here.
Bloomberg
3 days ago
- Business
- Bloomberg
How Vibes Became a Nearly Undefeated Economic Indicator
Businessweek A Walk With University of Michigan's Joanne Hsu can tell US households are in a foul mood. Is anyone listening? By Every month, thousands of randomly selected Americans get a letter in the mail from the University of Michigan asking how they're feeling. This year their answers have been pretty unambiguous: bad. They've been feeling bad about prices, bad about business conditions. Bad about their incomes and job security, the housing and stock markets. They've felt so bad, in fact, that Michigan's Index of Consumer Sentiment was stuck at one of its worst readings on record for two months this spring after plunging 29% in the first four months of 2025. Over the 79 years of the survey, a drop this large this fast has almost always predicted a recession. Sentiment readings improved slightly at the start of June but still indicate Americans expect much higher prices and a much slower economy in the coming year.
Business Insider
13-06-2025
- Business
- Business Insider
Dow Jones Index Today: DJIA Drops on Israel Strikes as Consumer Sentiment Jumps
The Dow Jones (DJIA) is down by over 1% as the market processes the impact of Israel's attack on Iran's nuclear and military facilities. Meanwhile, oil prices are surging as the conflict threatens to disrupt energy supply chains in the Middle East. Confident Investing Starts Here: On Friday, President Trump said that Israel's strikes will actually be a positive for the market. 'I think ultimately, it would be great for the market because Iran will not have a nuclear weapon. It will be great for the market—should be the greatest thing ever for the market. Iran won't have a nuclear weapon that was a great threat to humanity,' said Trump in an interview with the Wall Street Journal. Trump also added that he was aware of the attack before it occurred and that he plans to speak with Israeli Prime Minister Benjamin Netanyahu today. Meanwhile, consumer sentiment has finally reversed a six-month slump based on the University of Michigan's Index of Consumer Sentiment. The index's preliminary June reading came in at 60.5, above the estimate for 53.5 and up from 52.2 in May. Furthermore, UM's year-ahead inflation expectation tallied in at 5.1% compared to 6.6% last month. Long-run inflation expectations are now at 4.1%, down from 4.2%. Which Stocks are Moving the Dow Jones? Let's shift our attention to TipRanks' Dow Jones Heatmap, which illustrates the stocks that have contributed to the index's price action. In a weak finish to the week, every single technology stock within the index is falling, led by Salesforce (CRM) and Nvidia (NVDA). In addition, payment providers Visa (V) and American Express (AXP) are taking a hit after the Wall Street Journal reported that Amazon (AMZN) and Walmart (WMT) are exploring the idea of issuing proprietary stablecoins. Elsewhere, communications services, energy, and healthcare, excluding embattled UnitedHealth Group (UNH), are relatively muted as we head into the weekend. DIA Stock Moves Higher with the Dow Jones The SPDR Dow Jones Industrial Average ETF (DIA) is an exchange-traded fund designed to track the movement of the Dow Jones. In addition, DJIA can't be bought or sold, although DIA can be. Wall Street believes that DIA stock has room to rise. During the past three months, analysts have issued an average DIA price target of $466.70 for the stocks within the index, implying upside of 9.82% from current prices. The 31 stocks in DIA carry 30 buy ratings, 1 hold rating, and zero sell ratings.
Yahoo
13-06-2025
- Business
- Yahoo
Retail Sales Rose in May, But Trade Group Warns of Spending Shift
Core retail sales rose 4.2% year-over-year in May, according to the National Retail Federation, which shared its estimates ahead of the government's scheduled retail sales release next week. Spending growth has slowed, but the trade group warned that consumer spending is shifting amid economic uncertainty. Retailers are trying to suss out how their customers will respond to evolving trade policies and economic sales grew in May, according to a fresh analysis, but uncertainty is shifting consumer behavior, leaving retailers eager to pinpoint where it's headed. Core retail sales—which excludes restaurant, car and gas spending—rose about 0.2% from April to May, and 4.2% from a year earlier, the National Retail Federation said Friday. Spending growth has slowed, which the trade group said in part reflects fewer consumers stocking up on goods in an attempt to beat tariff-fueled price increases. 'While momentum remains, the nature of consumer spending is shifting as economic uncertainty increases,' NRF President Matthew Shay said in a press release. 'Consumer fundamentals haven't been damaged yet, and a slowing-but-still-growing job market is supporting household priorities ahead of any meaningful price increases in the coming months.' Spending on digital products, such as games and books, shot up about 28% year-over-year in May, and sporting goods sales rose 8.2%, the NRF said. But sales at building and garden supply stores fell 7.3% over the past year, it said. The federal government is slated to release its own retail sales figures for May on Tuesday. The University of Michigan's Index of Consumer Sentiment rose 16% from May to June—marking the first increase in six months. Unease about the economy remains high by historical standards, but has come down as the White House has moderated its stance on tariffs. Under a proposed trade deal with China, President Donald Trump may keep tariffs on Chinese exports at the current level, rather than the prior 145% tax. The U.S. may also maintain 10% tariffs on goods from a number of trading partners past July, when higher import taxes are slated to go into effect, officials said. A number of retailers are searching for signals on how consumers will respond to the latest twists in domestic trade policy. Shoppers have been relatively cautious, apparel companies (JILL) and Oxford Industries (OXM) said on earnings conference calls this week. 'Concern about the impact of tariffs on prices in the economy is exacerbating weak consumer sentiment,' Oxford Industries CEO Thomas Caldecot Chubb III said, according to a transcript made available by AlphaSense. Assessments are complicated by the fact that Americans endured years of high inflation, beginning amid the pandemic, said Howard Friedman, CEO of Utz Brands (UTZ), which sells chips, pretzels and other snacks. 'The consumer may be taking a little bit of a break,' Friedman said at a conference this week. Read the original article on Investopedia Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
13-06-2025
- Business
- Yahoo
Tariff-Driven Economic Anxiety Eased In June
Consumer sentiment improved for the first time in six months in June, as potential trade deals eased fears that President Donald Trump's tariffs will push up inflation. Sentiment remained at low levels by historic standards according to the index. Professional forecasters have also pared back earlier estimates for how much damage Trump's tariffs will do to the are less worried that President Donald Trump's tariff campaign will push up prices, though American consumers remain pessimistic by historical University of Michigan's Index of Consumer Sentiment, a survey of how people feel about the economy and their finances, rose in June for the first time in six months, the university said Friday. The index rose 16% in June compared to May, according to a preliminary survey, but was still 20% below its level in December 2024. At a level of 60.5 in June, the index is still below the typical range of about 100 before the about most aspects of the economy, including inflation, improved amid news about trade talks possibly defusing the high tariffs that Trump has imposed in recent months. Economists closely watch measures of how people feel about the economy because sentiment can affect how much people are willing to spend. Consumer spending is the cornerstone of the economy, making up about 68% of the GDP.'It's welcome news to see a pickup in consumer sentiment after months of decline," Heather Long, chief economist at Navy Federal Credit Union, wrote in a commentary. "Americans are relieved to see President Trump paring back his trade war and tariffs, but they remain on high alert for price increases at the store and gas pump." The decreased consumer pessimism echoes that of professional economists, many of whom have pared back their projections for how much damage Trump's tariffs will cause the economy. Economists at Oxford Economics reduced their projected chances of a recession in the next year to 35% Thursday, though still over the baseline 15% chance of a recession in any given measures of inflation have been milder than expected, and the job market has stayed resilient. Still, forecasters are bracing for the tariffs to drag down employment and push up inflation later in the year, as more companies pass along the cost of the import taxes on to customers. Read the original article on Investopedia Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
