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If anyone wanted a snapshot of the tight spot the U.S. economy and policymakers are in right now, they got it on Friday via the University of Michigan's latest consumer sentiment and inflation expectations survey. The results were eye-popping: consumer sentiment expectations are now the lowest since 1980 and one-year inflation expectations are the highest since 1981, above 6%. Fed Chair Jerome Powell said earlier this month the link between the two in recent years has been "weak" and he has previously downplayed the U-Mich inflation expectations figures.

Tesla shares rallied this week alongside the broader market, with the electric vehicle maker's stock posting gains for the fourth consecutive week.

U.S. stocks closed out another strong week on a positive note. The S&P 500 rose 0.7% Friday, its fifth gain in a row and bringing its gain for the week to 5.3%. It was the third week of solid gains in the last four.

U.S. stocks closed out another strong week on a positive note. The S&P 500 rose 0.7% Friday, its fifth gain in a row and bringing its gain for the week to 5.3%. It was the third week of solid gains in the last four.

Small-cap stocks on Friday notched their longest stretch of positive weeks since 2023 as markets continued to rally on optimism about a cooling of the global trade tensions that had roiled financial markets.

Sentiment readings dipped from 52.2 in April to 50.8 in May, according to new data from the University of Michigan.

Fidelity Investment's Jurrien Timmer says Bitcoin now rivals gold in risk-adjusted returns, calling for a 4:1 allocation split.