S&P 500, Nasdaq gain as upbeat US-China trade talks continue
New data from the New York Fed suggests Americans are gaining confidence in the labor market, even as broad uncertainty around trade policy, interest rates, and other unknowns clouds the economic outlook. According to the New York Fed’s May 2025 Survey of Consumer Expectations, the perceived chance that the US unemployment rate will rise over the next year fell by 3.3 percentage points to 40.8%. It’s a notable drop as the labor force remains mostly stable. But the figure still sits above the 12-month average of 37.7%, suggesting caution hasn’t...