Consumer Confidence Soars in May, Markets Surge
It looked like Wall Street was waiting for just one piece of good news to take off today, and it got that moments ago: Consumer confidence in May soared to its highest level since September, pushing the Dow Jones up 140 points.
The Conference Board said moments ago that its Consumer Confidence Index shot up from 51 percent in April to 72 percent in May. This index reflects what consumers think about their situation in coming months.
The Present Situation Index, which measures how they feel about the right now, inched up from 25.5 percent to 28.9 percent in April.
In reaction, the Dow is now trading up 1.7 percent.
The broader S&P 500 is up 1.7 percent and the tech-heavy Nasdaq is up 2.4 percent.
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