While Wall Street is bullish on the US stock market, consumer confidence remains subdued

Consumer confidence is hovering at historic lows, and Americans are increasingly worried about inflation intensifying as a result of Middle East conflicts. Earlier this month, the University of Michigan's preliminary April Consumer Confidence Index dropped from 53.3 in March to a record low of 47.6. The final value will be released on Friday. Despite weakening expectations among Americans, strong corporate earnings, a rebound in artificial intelligence trading, and overall economic resilience are supporting stock market performance. The greatest concern for consumers is oil prices, as the closure of the Strait of Hormuz has driven up refueling costs.