Consumer inflation expectations rose more than anticipated, with the 1-year inflation outlook jumping to 6.7% (versus the 5.2% expected) and the 5- to 10-year forecast edging up to 4.4% (versus the expected 4.1%).
Catalysts host Madison Mills goes over the details, highlighting how these worse-than-expected numbers pressured markets.
To watch more expert insights and analysis on the latest market action, check out more Catalysts here.
Michigan, five to ten year inflation expectations rising to 4.4% versus the expectation here of 4.1%. One year inflation also coming in hot, the expectation for 5.2%, the actual number coming in at 6.7%. You can see as I'm reading the numbers the S&P 500 flipping negative here. And also want to mention another stat that we're seeing in the University of Michigan sentiment data, the survey indicating a 53.8% eight level coming in below that at 50.8. And again, University of Michigan expectations coming in a little bit soft as well. Want to get you that five to ten year inflation number also coming in just a bit hot at 4 4.4% above the estimate which was 4.3% here. So looking like investors and consumers, I should say, for consumer sentiment data are anticipating a little bit more inflation to come than the survey had estimated. You've also got your NASDAQ flipping between the between red and green this morning flipping negative just for a moment here off the back of these numbers.
