The market keeps winning. Most Americans are losing faith
U.S. stocks have experienced their eighth consecutive week of gains, despite a decline in consumer sentiment regarding the economy. The S&P 500 and Dow Jones Industrial Average both rose, driven by strong corporate earnings reports. However, concerns about rising inflation and its impact on consumers persist, particularly among lower-income households.
- ▪The S&P 500 added 0.4% and approached its all-time high.
- ▪Consumer sentiment fell to a record low, with expectations for inflation worsening.
- ▪Oil prices have fluctuated due to uncertainty surrounding the U.S.-Iran conflict.
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The split between Wall Street and most U.S. households grew wider Friday as U.S. stocks rose to the finish of their eighth straight winning week, the best such streak since 2023. That’s even though a survey showed U.S. consumers are feeling even worse about the economy.Recommended Video The S&P 500 added 0.4% and pulled closer to its all-time high set in the middle of last week. The Dow Jones Industrial Average rose 294 points, or 0.6%, and the Nasdaq composite gained 0.2%. Ross Stores helped drive the market and rose 8.1% after the off-price retailer reported profit and revenue for the latest quarter that easily cleared analysts’ expectations.
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