A preliminary indication of the University of Michigan sentiment index showed an improvement in overall consumer sentiment. The index rose from 67.4 to 70.4 in December (versus 67.1 assumed by analysts). Indications of Consumer Expectations also rose to 67.8, while markets had expected the index to fall to 62. Shortly after the publication, the indices reacted with a slight increase.
The University of Michigan's consumer sentiment above expectations. Source: Bloomberg
Both after the publication of the Michigan data and the earlier inflation data, we could observe a positive reaction on the US500. However, the upward movement has already been erased in both cases. Source: xStation5
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