The University of Michigan’s preliminary January consumer sentiment index reading was 74.0 compared to the final December 69.9, according to market sources.

The expectations index was 68.4, up from 63.6 in December. The current conditions index was 82.6, compared to 79.6 in December.

Economists had predicted a 71.5 for the main sentiment index, 80.2 for current conditions and 65.0 for expectations.

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