S&P Flat After Weak Consumer Readings

The S&P 500 was little changed after the release of disappointing consumer sentiment data slowed the benchmark’s four-day winning streak. The benchmark is still on track for a sharp gain on the week after entering positive territory for the 2025.

The Dow Jones Industrials kept their momentum building 23.11 points to commence the week’s last session at 42,345.86

The much-broader index ditched 0.44 points to 5,917.37.

The NASDAQ Composite dipped 18.14 points to 19,094.17.

Stocks have made a strong comeback since U.S. and Chinese officials earlier this week agreed on a 90-day truce in their tariff measures, which eased investors’ fears of escalating global trade tensions and rising risk to the economy.

Week to date, the S&P 500 is up 4.5%, and the Dow has gained 2.6%. The NASDAQ Composite has jumped more than 6% this week. Both the S&P 500 and Dow closed higher on Thursday, while the NASDAQ fell slightly.

A weaker-than-expected reading of consumer sentiment put a dent in overall investor enthusiasm on Friday. The University of Michigan’s survey of consumers fell to 50.8 in May, down from 52.2 in April, which is the second-lowest reading ever behind June 2022.

Consumer expectations for inflation over the next year jumped to 7.3% from 6.5% last month, as survey respondents continue to signal worry tied to President Donald Trump’s tariffs.

Friday could see an uptick in volatility on Wall Street due to a large amount of options contracts that are set to expire. Goldman Sachs estimated that more than $2.8 trillion of notional options exposure will expire on Friday, the biggest such number on record for a May trading day.

Prices for the 10-year Treasury gained a small measure of strength, lowering yields to 4.43% from Thursday’s 4.44%. Treasury prices and yields move in opposite directions.

Oil prices captured 22 cents to $61.84 U.S. a barrel.

Prices for gold turned lower $47.80 to $3,178.80