Hello fellow Robocapitals hope you're well so I see Jared in the chat hit the nail right on the head

Consumer sentiment crashed and that is an understatement when you look at the month over month numbers.

Let's go right over to see and be see and check this out.

The title of the article Consumer sentiment tumbles as inflation fears surge.

See they talk about inflation fears but when you actually get into the report, the biggest thing that stood out, in my opinion,

is the expectations for future unemployment. More on that in just a moment. So they say there's a closely

watched survey. It is the University of Michigan survey of Consumer

Sentiment Index for May.

It posted an initial reading of 67.4 for the month down

from 77.2 in April and well off the consensus which was for 76 the month over month

decline was 12.7% and the one year inflation outlet jumped to 3.5 percent up 0.3.

Okay and that is the highest level since November of 2023. That's interesting.

So the key things I highlighted, while consumers

had been reserving judgment for the past few months,

they now perceive negative developments on a number of dimensions.

This is Joanne Sue, the survey's director, expressed worries that inflation, unemployment and

interest rates may all be moving in unfavorable directions in the year ahead.

Hmm.

Yeah, again, I think the focus here is on the unemployment, especially when you combine it with the data that the and also the jump in the unemployment claims that just came out yesterday the day prior.

Other indexes in the survey also posted substantial declines.

The current condition

index fell 6 to 68.8 down more than 10 points. Expectations fell to 66 down by 6.5 down by 9.5 percent.

...