Consumer sentiment rebounds sharply

U.S. consumer sentiment perked up in early June as households responded to the reopening of businesses, which had been shuttered to slow the spread of COVID-19, and a rebound in hiring.

The University of Michigan said its consumer sentiment index increased to a reading of 78.9 from 72.3 in May. Economists polled by Reuters had forecast the sentiment index would rise to 75 early this month.