May consumer sentiment gauge improves (by Steve Goldstein)

WASHINGTON (MarketWatch) -- The University of Michigan-Thomson Reuters preliminary consumer sentiment index climbed to a reading of 72.4 from a reading of 69.8 in April. Economists polled by MarketWatch expected a 71.0 reading. The gauge hasn't been above 100 since Jan. 2004 and was at 76.1 on the eve of the last recession.