Stocks opened lower Friday but climbed into positive territory by lunchtime. Investors cheered this week's encouraging economic data that showed inflation continued to cool and consumer spending remains resilient. Next up is the Jackson Hole Economic Symposium, where Fed Chair Powell will deliver a highly anticipated speech on Friday.
As for today's economic news, the University of Michigan said its Consumer Sentiment Index rose 2.1% in August vs the month prior, its first increase in five months. And while consumers' long-term expectations also rose, their views on current conditions fell to 60.9, the lowest level since December 2022.
