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MARKETS LIVE BLOG:

STOCKS RISE AS DOW EYES GAIN FOR 8TH STRAIGHT SESSION

U.S. consumer sentiment tumbles in May as inflation, interest rate worries take hold

US consumers are feeling great

Myles Udland
lewan michigan
lewan michigan

(REUTERS/Rebecca Cook)

US consumers are feeling great.

The latest consumer confidence reading from the University of Michigan came in at 93.0, beating expectations.

Expectations were for the reading to come in at 92.0, up from a preliminary reading of 91.2 earlier this month.

The report showed that the consumers' assessment of current conditions improved to 105 from 103, while consumers' expectations increased to 85.3 from 83.7.

So, overall, a really strong reading on the state of US consumers.



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