Wall Street’s Bullish Stocks View Contrasts With Consumer Gloom

Stocks are trading near a record high, signaling Wall Street is learning to cope with lingering geopolitical risks. Main Street is struggling to catch up.

Consumer sentiment is languishing at all-time lows, with Americans increasingly worried about mounting inflation driven by hostilities in the Middle East. Earlier this month, a preliminary read on the University of Michigan’s consumer sentiment index for April slumped to a record-low 47.6, down from 53.3 in March. The final figures will be released on Friday.