Stock Market Update: Mixed Finish for Stock Indices, Consumer Sentiment Drops

Stock indices finished today’s trading session mixed, with the S&P 500 and Dow Jones Industrial Average falling slightly while the Nasdaq 100 gained. The University of Michigan released consumer inflation expectations, showing an increase to 3.1%. Consumer sentiment and expectations came in lower than expected, indicating a decrease compared to the previous month.

In other news, U.S. futures were mixed after the S&P 500 and Nasdaq Composite closed higher for the fourth straight trading session. Tesla stock gained after shareholders re-approved Elon Musk’s pay package, while Broadcom and Adobe saw significant stock movements.

Key economic reports due today include the preliminary Consumer Sentiment Index reading for June. The U.S. 10-year treasury yield was up, while WTI crude oil futures trended lower. European markets are expected to open higher, and most Asia-Pacific indices traded in the green after the Bank of Japan kept its benchmark interest rate unchanged.

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