The country's weighted rate of inflation in May was lower than expected at 5.6%. Also, after climbing nearly 2% on Monday, the market fell 0.39%. In May, headline inflation was 5.8%, lower that the 6.9% figure for April. Two fund managers list their top stocks to take advantage of the potential rise in crude oil prices.
Goldman Sachs believes the majority of margin growth is still to come, as companies begin to reap the benefits of cost-cutting initiatives implemented in the first halves of 2023.
Generac and Old Dominion both soared by more than 4%. Only two sectors, utilities and health care, slipped into the negative zone. The index for consumer confidence rose from 102.5 in may to 109.7 for the month, a higher value than the Dow Jones estimate of 104. New questions focusing on household finances showed that 30% of families expect their situation to improve over the next six-months, while only 14% see worsening circumstances. --Jeff Cox