U.S. consumer mood improving, according to final sentiment reading for January
The numbers: Consumer sentiment improved in late January to 64.9, according to the University of Michigan’s gauge of consumer attitudes.
This added 5.2 index points from 59.7 in December and was up from the initial January reading of 64.6.Key details: A gauge of consumer’s views of current conditions rose to a final reading of 68.4 in January from 59.4 in the prior month.Americans viewed that inflation was moderating in January. They expected the inflation rate in the next year to average about 3.9%, down from 4.4% in December. This is the lowest level since April 2021.
Market reaction: Stocks DJIA, +0.15% SPX, +0.22% opened higher on Friday. The yield on the 10-year Treasury note TMUBMUSD10Y, 3.549% rose to 3.54%.
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