Consumer sentiment plummets to near-record lows—but stock markets remain unfazed

A stock market traders looks at screen worried. (Credit: Michael M. Santiago—Getty Images)

• The S&P 500 edged upwards on Friday despite a drop in May in consumer sentiment and aggressive comments from President Donald Trump that his administration will impose new tariffs on some trading partners.

Stock prices closed near their February highs on Friday—even though consumer sentiment neared all-time lows. The S&P 500 finished around 6,000, a number not seen since shortly after President Donald Trump took office, boosted by a daily gain of 0.7% and overall weekly gains of 2.6%. Meanwhile, the Nasdaq posted a daily gain of 0.5%, and the Dow Jones jumped 0.78%.