Friday's Markets Update (May 12, 2023)2023)

14 May 2023 by rate3

On Friday, the UoM survey indicated that consumer sentiment had decreased more than what analysts had predicted. However, the NASDAQ bears managed to slightly push down the index only slightly - from its opening of 12350 to a closing of 12284. Meanwhile, BTC (o:26412, c:26459) remained stable.

In May 2023, the University of Michigan's consumer sentiment fell sharply to a six-month low of 57.7, below the expected 63. While year-ahead inflation expectations decreased to 4.5% from April's 4.6%, the five-year outlook increased to 3.2%, the highest since 2011, compared to last month's 3%. Looks like concerns about the economy continue to increase.

World's Notable Macroeconomic Updates:

Argentine: Country's inflation remains at the highest level since 1991, increasing 108.8% YoY in April after rising 104.3% in March.