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interest rate worriesYahoo Finance
•87% Informative
The Dow eked out its eighth straight session of gains on Friday and closed out its best week of the year as US stocks finished the day mostly in the green.
The gains came despite the three major indexes losing some steam earlier in the session after consumer sentiment hit a six-month low.
The latest University of Michigan consumer sentiment survey released Friday revealed a 13% drop in overall sentiment during the month of May .
Federal Reserve Governor Michelle Bowman says interest rates need to stay where they are "for a bit longer" Comments echo similar sentiments from other Fed officials in recent weeks that inflation is still too high to cut.
Latest University of Michigan consumer sentiment survey released Friday revealed a 13% drop in overall sentiment during the month of May .
Chinese electric vehicle makers like Nio, Li Auto , and Xpeng saw shares drop on Friday following news that President Biden is set to unveil tariffs on China .
Year-ahead inflation expectations hit 3.5% in Friday 's report.
Longer-run inflation expectations rose to 3.1% , up from 3.2% in the month prior.
The S&P 500 is on track for a third consecutive weekly gain for the first time since February .
VR Score
89
Informative language
90
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39
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