Stock Market Update
22-May-26 10:30 ET
Major averages maintain opening gains
Dow +294.28
at 50579.94,
Nasdaq +76.64
at 26390.74,
S&P +28.11
at 7473.83
[BRIEFING.COM] The S&P 500 (+0.4%), Nasdaq Composite (+0.3%), and DJIA (+0.6%) are maintaining their opening gains as participation remains broad.
The final reading for the University of Michigan Consumer Sentiment Index for May dropped to 44.8 (Briefing.com consensus: 48.2) from the preliminary reading of 48.2, marking a new historic low. The final reading for April was 49.8. 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 inflation, which they are concerned will increase beyond fuel prices.
