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.
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