Michigan Consumer Sentiment For May 69.1 Vs 67.4 Est.; 77.2 Prior
Portfolio Pulse from Benzinga Newsdesk
The Michigan Consumer Sentiment Index for May came in at 69.1, higher than the estimated 67.4 but lower than the previous month's 77.2.
May 24, 2024 | 2:00 pm
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NEUTRAL IMPACT
The Michigan Consumer Sentiment Index for May was reported at 69.1, surpassing the estimated 67.4 but falling short of the previous month's 77.2. This mixed sentiment could lead to short-term volatility in the SPY ETF.
The higher-than-expected consumer sentiment is a positive indicator, but the drop from the previous month could cause uncertainty. This mixed data is likely to result in short-term volatility for SPY.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80