Consumer Confidence Edges Higher In May

The Conference Board reported a slight rise in consumer confidence in May. Its index rose to 95.4 from 94.3 in April, as a gain in the present situation index outweighed a small loss in expectations. Economists polled by MarketWatch expected a reading of 93. "While current conditions in the second quarter appear to be improving, consumers still remain cautious about the short-term outlook," said Lynn Franco, director of economic indicators, in a statement.