Equities Surge Despite Weak Consumer Sentiment
U.S. equity indices surged last week on a relief rally theme after U.S. and China trade officials agreed to a framework trade deal, mutually agreeing to initially reduce their respective tariffs by 115% for 90 days. Equities advanced even after disappointing consumer sentiment and persistent inflation concerns. The University of Michigan’s preliminary consumer sentiment index fell in May to 50.8, a three-year low.
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