The University of Michigan reveals the preliminary reading for its consumer sentiment index in January.
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The numbers: The University of Michigan said the preliminary reading of its consumer sentiment index in January was 99.1, down slightly from 99.3 in the prior month.
Economists polled by MarketWatch expected a reading of 99.6.
The sentiment indicator covers how consumers view their personal finances as well as business and buying conditions.
The big picture: The healthy job market and rising stock market are bolstering consumer confidence.
Market reaction: U.S. stocks SPX, +0.25% DJIA, +0.17% were up modestly and hitting record intraday highs on Friday, after the main indexes closed at new records on Thursday.
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