Despite the prevalent macroeconomic turmoil, broader markets have witnessed significant gains over the past month. The S&P 500 gained 11.4% over the past month after hitting record lows in the second quarter. Moreover, amid relaxing inflation numbers, consumer sentiment is gradually improving.
The University of Michigan’s August reading of overall consumer sentiment came in at 55.1, up 7% month-over-month. Survey Director Joanne Hsu said, “All components of the expectations index improved this month, particularly among low- and middle-income consumers for whom inflation is particularly salient.”
