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U.S. Stocks Trade Little Changed After Consumer Sentiment Report

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U.S. Stocks Trade Little Changed After Consumer Sentiment Report
Traders work at the New York Stock Exchange. Photographer: Scott Eells/Bloomberg

May 31 (Bloomberg) -- U.S. stocks were little changed, trimming earlier losses, after a report showed consumer sentiment in May rose more than estimated.

The Standard & Poor’s 500 Index fell 0.1 percent to 1,652.57 at 9:59 a.m. in New York. The gauge earlier fell as much as 0.4 percent.

The Thomson Reuters/University of Michigan final index of U.S. consumer sentiment in May rose to 84.5 from 76.4 a month earlier. The median forecast in a Bloomberg survey called for the gauge to hold at its preliminary reading of 83.7. Estimates of the 64 economists ranged from 81.5 to 85.8.

A separate report showed the MNI Chicago Report’s business barometer rose to 58.7 in May from 49 last month. The median forecast of 54 economists surveyed by Bloomberg was 50.

To contact the editor responsible for this story: Jeremy Herron at jherron8@bloomberg.net

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