Michigan preliminary sentiment index falls to 59.7
- Consumer sentiment index 59.7 versus 61.4 estimate
- Current conditions 67.8 versus 66.0 estimate
- expectations 54.4 versus 58.8 estimate
- one year inflation expectations 5.4% versus 4.9% last month. Highest level since the early 80's
- five year inflation expectations 3.0% vs 3.0% last month
The report is the first post the Russian invasion and the spike higher in energy prices.
Meanwhile, US stocks have started to move back to the downside. The NASDAQ is now down -51 points or -0.39% at 13080. The S&P index is trading above and below unchanged near 4260.