The latest survey of consumer expectationsfrom the Federal Reserve Bank of New York showed the mean perceived probability that stocks will be higher in the next 12 months rose to 40.5% in May, up from 38.7% in April.
The survey also showed consumers' expectations for inflation over the next year fell to 3.2% in May, down from 3.3% in April. Broadly, the New York Fed found households were feeling better about their financial situations as more respondents reported being "better off than a year ago" while fewer respondents noted they were "worse off."