Stocks erase losses as consumer sentiment reaches 15-year high

|By:, SA News Editor

U.S. stocks regain ground lost in early trading after the May consumer sentiment reading came in stronger than expected and reached a 15-year high.

The April leading indicator print, though up 0.2%, trailed the +0.3% consensus.

The Nasdaq, now flat, had fallen as much as 0.9%. The S&P 500 and the Dow, both up 0.2%, erase an earlier decline of 0.8%.

Among S&P 500 sectors, utilities (+0.1%)  and communications services (+0.1%) outperform the broader market, while energy (-0.8%) and industrials (-0.8%) decline the most.

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