2 Hours Ago
Consumer sentiment measure hits lowest level since July 2022
People shop at the Macy’s store on Herald Square in New York City.
Michael M. Santiago | Getty Images News | Getty Images
Consumer confidence hit its lowest level since mid-2022 in March as fears grew over employment and inflation, the Conference Board reported Tuesday.
The board’s main index registered a reading of 97, below the downwardly revised 103.1 in March and missing the Dow Jones consensus estimate of 103.5. This was the lowest level for the index since July 2022, though board officials said their measure of current conditions is still at a fairly healthy level and the headline index has been in a “relatively narrow range” for more than two years.
Still, there were concerns about where things are headed. Respondents answers reflected that “elevated price levels, especially for food and gas, dominated consumer’s concerns, with politics and global conflicts as distant runners-up,” said Dana M. Peterson, the board’s chief economist.
—Jeff Cox
2 Hours Ago
Stocks open lower
3 Hours Ago
Stocks making the biggest moves premarket include Eli Lilly, 3M, McDonald’s
3M company global headquarters. in Maplewood, Minnesota.
Michael Siluk | Universal Images Group | Getty Images
Check out the companies making headlines before the bell.
3M – Shares advanced 7.7% after the maker of industrial products posted earnings of $2.39 per share on revenues of $7.72 billion. That topped analysts’ estimates of $2.10 per share on adjusted revenues of $7.63 billion, according to LSEG. 3M also said it will cut its dividend, which it had raised for 64 consecutive years, after spinning off its healthcare unit earlier this month.Eli Lilly — Shares popped nearly 7% after the maker of the Mounjaro diabetes and weight loss drug reported first-quarter adjusted earnings of $2.58 per share, beating the consensus estimate of $2.46, according to LSEG. Eli Lilly also hiked its full-year guidance for adjusted earnings and revenue, topping analysts’ expectations.GE Healthcare Technologies — Shares tumbled 8.1% after the…..