Consumer Confidence Up in May; S&P 500 Hits Another Record High
The S&P 500 hits another new record as it closed above 1,900 for the second straight day. The Dow Jones and Nasdaq also ended the day up. The Consumer Confidence Index rose 1.7 in May, up to 83 from 81.7 in April. Many consumers' expectations for the economy improved, along with the warmer weather. Durable goods orders were up 0.8% in April due to a big increase in demand for military aircraft. If it weren't for the large number of defense orders, durable good orders would have fallen 0.8%. Apple (AAPL) wants to take over another part of your life, your home.The company is planning on creating a smart home platform that would enable you to control your home through an iPad or iPhone. The news is expected to be announced next week at its Worldwide Developers Conference.
Word on the Street
Published on May 27, 2014By InvestorGuide Staff