Part 12/14:
On the macroeconomic front, the University of Michigan’s consumer sentiment survey for May 2024 delivered disappointing results. The index plunged from an expected 76.2 to 67.4—a historic deviation—signaling rising consumer anxiety amid signs of economic slowdown.
Combined with the Federal Reserve’s interest rate cuts and jitters in the labor market, these signals point to potential economic instability. The Fed and policymakers are under pressure to respond, but market sentiment remains fragile.