The University of Michigan's preliminary June consumer sentiment index reading was 74.1, compared to the final May 79.3 and the preliminary May 77.8, according to market sources.

The expectations index was 68.9, compared to 74.3 in May, and 71.7 earlier in May. The current conditions index was 82.1, compared to 87.2 in May and 87.3 earlier in May.

Economists predicted a 77.5 reading for the main index, 85.3 for current conditions and 71.8 for expectations.

The five-year inflation expectation index was 2.9%, compared to 2.7% in May and 2.9% in April, while the one-year inflation expectation index was 3.0%, compared to 3.0% in May and 3.2% in April.

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