University Michigan Sentiment Prelim: 50.8 (Forecast 53.4, Previous 52.2); second lowest on record.
- Expectations Prelim: 46.5 (Forecast 48.6, Previous 47.3)
- Current condition Prelim: 57.6 (Forecast 59.9, Previous 59.8)
University Michigan 1 Yr Inflation Expectations Prelim: 7.3% (Forecast 6.5%, Previous 6.5%
- 5 Yr Inflation Expectations Prelim: 4.6% (Forecast 4.4%, Previous 4.4%)
Wall Street almost ignored 'very bad' University of Michigan prelim report, suggesting rising both long-term and short-term inflation expectations, with unexpected weakness across the expectations, current condition and sentiments indices.
Economic Calendar: What's driving the market this morning❓
Morning Wrap: Will the markets recover from Friday’s “crash”❓
Daily summary: Nasdaq 100 drops 3%, precious metals and Bitcoin are falling amid US dollar strength
NFP: A turning point for the dollar and the start of a stock market correction?