Chicago PMI for the month of January turned to be better-than-expected, showing a promising sign of economic recovery Meanwhile, University of Michigan Consumer Sentiment was more-or-less in line with expectations. The exact figures were as follows:
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Chicago PMI in January: 63.8 pts (vs expected 58.5 pts)
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Michigan Consumer Sentiment in January: 79.0 pts (vs expected: 79.2 pts)
It is worth to notice that UoM’s 1-year inflation outlook rose to 2.7% vs 2.5% previously.
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US500 pulled back after the US stock market open. The index is trying to rebound following strong Chicago PMI release. Source: xStation5
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