U.S. consumer sentiment declines in December: UMich
Yahoo Finance's Julie Hyman breaks down UMich's latest data on consumer sentiment.
Video Transcript
[MUSIC PLAYING]
BRIAN SOZZI: Happy Friday, and welcome back to "Yahoo Finance Live." Your two favorites-- that's me and Julie Hyman-- will have you covered for the next hour of market action. And action is what we are seeing following that much better than expected Apple earnings report last night. But unfortunately for the bulls, it's not the action they desire. All three major indices are solidly in the red, with the S&P 500 and Dow just closing in on what may be their fourth straight week of weekly losses. Julie, over to you now with some breaking news on the consumer.
JULIE HYMAN: Yeah, and consumer sentiment getting revised lower here in the University of Michigan's latest reading, its final reading on January sentiment coming in at 67.2. 68.8 was the earlier read. Current conditions is declining here, at 72 versus 73.2. That's where the original read was. Expectations at 64.1. 65.9 is where the read was.
And the one-year inflation expectation at 4.9%, which is also quite interesting there, that that is-- in other words, it's expected by folks out there that inflation is going to persist. By the way, that 67.2 that I just mentioned, the overall reading, is the lowest since November of 2011 here. So that gauge of confidence not showing people are feeling great out there, Soz.
