The University of Michigan released the final estimate for consumer confidence in May, where consumer confidence rose to 74.3, compared with the prior estimate and median estimates of 72.4.

The economic conditions index rose to 8.9 from 80.2 in the prior estimate, while the economic outlook index rose to 69.5 from 67.4. The 1-year inflation expectations index eased to 4.1% from 4.4%, while the 5-year inflation expectations index eased to 2.9% from 3.0%.