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The IBD/TIPP Economic Optimism Index published by the Investor’s Business Daily rose to 58.6 in May from 54.2 in April and surpassed  the market expectation of 54.5. This reading was also the highest since February of 2004.

“The six-month outlook gauge for the economy vaulted 7 points to 55.8, after falling into pessimistic territory for four of the prior five months. The subindex hit a 13-year high of 57.5 in February 2018 on the heels of tax cuts,” the publication read. “The six-month personal financial outlook index rose 2 points to 64.4.”