Stock Market Update

[BRIEFING.COM] The S&P 500 (+0.8%) and Nasdaq Composite (+1.4%) continue to climb to session highs as gains widen across technology stocks, though softer action elsewhere in the market has the DJIA (flat) hovering near its flatline.

The Conference Board's Consumer Confidence Index slipped to 93.1 in May (Briefing.com consensus: 92.0) from an upwardly revised 93.8 (from 92.8) in April. In the same period a year ago, the index stood at 98.4.

The key takeaway from the report is that inflation pressures had consumers feeling less optimistic about current conditions; however, those same pressures did not squash expectations for better conditions six months from now.