BREAKING: US UoM Consumers Sentiment Prelim much lower than exepcted📉US100 drops

University Michigan Sentiment Prelim: 57.9 (Forecast 63, Previous 64.7)

• University Michigan Condition Prelim: 63.5 (Forecast 64.4, Previous 65.7)
• University Michigan Expectations Prelim: 54.2 (Forecast 63, Previous 64.0)

University Michigan 5 Yr Inflation Prelim: 3.9% (Forecast 3.4%, Previous 3.5%)

University Michigan 1 Yr Inflation Prelim: 4.9% (Forecast 4.3%, Previous 4.3%)

The UoM report came in much worse than expected, highlighting a surge in inflation expectations (both short and long term), while US consumers expectations fell deeply to 54.2 vs 63 exp. US100 reacted with the decline in the first reaction to data, however bulls came in to action very fast.

Source: xStation5