Stock Market Today: Stocks End Mixed on the Day, Higher on the Week
The latest consumer sentiment data showed inflation concerns are on the rise.


A worse-than-expected reading on consumer sentiment kept a lid on stocks Friday, though the main indexes extended their weekly win streaks. The price action could pick up next week with several key inflation readings and an appearance from Fed Chair Jerome Powell on the docket.
The main indexes opened comfortably higher this morning but fell to their session lows after the University of Michigan said its Consumer Sentiment Index plunged to 67.4 in May from April's reading of 77.2.
"While consumers had been reserving judgment for the past few months, they now perceive negative developments on a number of dimensions," the report stated. "They expressed worries that inflation, unemployment and interest rates may all be moving in an unfavorable direction in the year ahead."
From just $107.88 $24.99 for Kiplinger Personal Finance
Be a smarter, better informed investor.

Sign up for Kiplinger’s Free Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
The data also showed that both short-term and long-term inflation expectations edged higher this month.
The Consumer Sentiment Index was a "double whammy" for the Fed, says Chris Zaccarelli, chief investment officer for Independent Advisor Alliance. If consumer spending slows and inflation accelerates, "we'll get the opposite of the Goldilocks scenario that many were hoping for, and the Fed will be in an especially difficult position of choosing between accommodating a slowing economy and fighting increasing inflation expectations," Zaccarelli explains.
Sweetgreen soars after beat-and-raise quarter
Market participants also sifted through this week's final batch of corporate earnings reports. Fast-casual restaurant chain Sweetgreen (SG) surged 34% after the company beat on the top line and raised its full-year forecast. SG also said it is rolling out steak options nationally for the first time following a successful trial run in Boston.
"We believe SG represents an early stage generational growth story armed with a model in early innings of a powerful revision cycle," says Oppenheimer analyst Brian Bittner (Outperform, the equivalent of Buy), adding that Sweetgreen's quarterly results are "consistent with our 'top pick' thesis."
Novavax more than doubles on Sanofi partnership
Novavax (NVAX) was another notable post-earnings gainer, nearly doubling (+98.9%) in value Friday. While the drugmaker said first-quarter revenue rose 16% year-over-year and its net loss narrowed from Q1 2023, it was the disclosure of a new billion-dollar licensing agreement with Sanofi (SNY, +1.2%) that lit a fire under NVAX.
Under the terms of the deal, Sanofi will sell Novavax's current COVID-19 vaccine while the two companies co-develop a COVID-19/influenza combination vaccine.
On the negative side of the ledger, Akamai Technologies (AKAM) slumped 11% after the cloud services firm's lower-than-expected Q1 revenue and Q2 guidance offset a first-quarter earnings beat.
As for the main indexes, the Dow Jones Industrial Average closed up 0.3% at 39,512 – its eighth consecutive gain – the S&P 500 was 0.2% higher at 5,222, and the Nasdaq Composite had slipped 0.03% to 16,340. It was a third straight weekly win for the S&P 500 and Nasdaq, and the fourth straight for the Dow.
Powell, CPI, Walmart earnings on deck
Next week's jam-packed economic calendar and notable earnings lineup could spark volatility in the stock market. Investors are most interested in Fed Chair Powell's early morning speech on Tuesday. An update on wholesale prices is also slated for release that day, while the April Consumer Price Index (CPI) is due Wednesday morning.
Investors will also see how sticky inflation is impacting consumers' spending behavior thanks to quarterly results from blue chip retailers Home Depot (HD, -0.3%) and Walmart (WMT, +0.1%).
Related content
- Kiplinger's Earnings Calendar for This Week
- What Is Stagflation and How Can Investors Prepare?
- Analysts' Top S&P 500 Stocks to Buy Now
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.

With over a decade of experience writing about the stock market, Karee Venema is the senior investing editor at Kiplinger.com. She joined the publication in April 2021 after 10 years of working as an investing writer and columnist at a local investment research firm. In her previous role, Karee focused primarily on options trading, as well as technical, fundamental and sentiment analysis.
-
Planning a Major Home Renovation? 3 Smart Ways to Finance It
From HELOCs to personal loans, here’s how to pay for a major home renovation without draining your savings.
-
Six Warren Buffett Quotes Every Retiree Should Live By
The 'Oracle of Omaha' knows a thing or two about life, investing and retirement.
-
Six Warren Buffett Quotes Every Retiree Should Live By
The 'Oracle of Omaha' knows a thing or two about life, investing and retirement.
-
Budget Hacks Won't Cut It: These Five Strategies From a Financial Planner Can Help Build Significant Wealth
Cutting out your daily latte might make you feel virtuous, but tracking pennies won't pay off. Here are some strategies that can actually build wealth.
-
To Unwrap a Budget-Friendly Holiday, Consider These Smart Moves From a Financial Professional
You can avoid a 'holiday hangover' of debt by setting a realistic budget, making a detailed list, considering alternative gifts, starting to save now and more.
-
Stocks Rise to End a Volatile Week: Stock Market Today
The market's fear index reached and retreated from a six-month intraday peak on Friday as stocks closed the week well.
-
I Bought Palantir When It Was Trading at $8. Now It's $180 and I've Made $1 Million. What Do I Do?
What do you do with all that appreciated Palantir stock? We asked a financial expert for advice.
-
Treat Home Equity Like Other Investments in Your Retirement Plan: Look at Its Track Record
Homeowners who are considering using home equity in their retirement plan can analyze it like they do their other investments. Here's how.
-
Why Does It Take Insurers So Darn Long to Pay Claims? An Insurance Expert Explains
The process of verification, investigation and cost assessment after a loss is complex and goes beyond simply cutting a check.
-
Two Reasons to Consider Deferred Compensation in the Wake of the OBBB, From a Financial Planner
Deferred compensation plans let you potentially lower your current taxes and help to keep you out of a higher tax bracket. It's important to consider the risks.