The Conference Board Consumer Confidence Index rose 12.3 pts to 98.0 in May, rebounding after five consecutive monthly declines and beating expectations of a much smaller increase to 87.

• The Expectations Index surged 17.4 pts to 72.8, though it remained below the recession-warning threshold of 80.
• The Present Situation Index rose 4.8 pts to 135.9, with better assessments of business conditions but a mixed labor market view.
• 44% of consumers now expect stock prices to rise in the next year (up from 37.6%), while those expecting declines dropped to 37.7% (from 47.2%).
• Inflation expectations eased to 6.5% (from 7.0%), and recession fears declined, though affordability concerns remain elevated.
• Spending plans improved across categories, especially for homes, cars, vacations, and services, following the partial US-China tariff pause announced May 12.