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US consumer confidence rebounds after five straight months of declines amid tariff anxiety

US consumer confidence rebounds after five straight months of declines amid tariff anxiety

WASHINGTON (AP) — Americans’ views of the economy improved in May after five straight months of declines sent consumer confidence to the lowest level since the onset of the COVID-19 pandemic, largely driven by anxiety over the impact of President Donald Trump’s tariffs. The Conference Board said Tuesday that its consumer confidence index rose 12.3 points in May to 98, up from April’s 85.7, its lowest reading since May 2020. A measure of Americans’ short-term expectations for their income, business conditions and the job market jumped 17.4 points to 72.8, but remained below 80, which can signal a recession ahead.… Continue Reading

How the stock market defied expectations again this year, by the numbers

How the stock market defied expectations again this year, by the numbers

NEW YORK (AP) — What a wonderful year 2024 has been for investors. U.S. stocks ripped higher and carried the S&P 500 to records as the economy kept growing and the Federal Reserve began cutting interest rates. The benchmark index posted its first back-to-back annual gains of more than 20% since 1998. The year featured many familiar winners, such as Big Tech, which got even bigger as their stock prices kept growing. But it wasn’t just Apple, Nvidia and the like. Bitcoin and gold surged and “Roaring Kitty” reappeared to briefly reignite the meme stock craze.… Continue Reading

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