Consumer confidence improved in May As the U.S. market gradually restarted, based on information released Tuesday by The Conference Board.
The customer of the Company group Confidence indicator climbed to 86.6 this month out of 85.7 in April.
Two weeks of rapid decrease, the free-fall in Confidence stopped in May,” Lynn Franco, senior manager of financial indicators in The Conference Board, said in a statement. “Short-term expectations moderately improved as the slow re-opening of the market helped enhance customers’ spirits.
“Yet, customers remain concerned about their financial prospects,” Franco added. “While the decrease in confidence seems to have ceased, for now, the irregular path to healing and the possible second wave is very likely to maintain a cloud of doubt hanging over customers’ heads.”
Stocks rallied Tuesday as dealers cheered the U.S. market reopening. The S&P 500 broke for the very first over the level of 3,000 Time since March, and the Dow broke above 25,000 levels for its Time since March 10. Stocks additionally raised bets on an expected coronavirus vaccine.