Consumer Sentiment Drops 10%, UnitedHealth Under Investigation: What's Driving Markets Friday?

Economic Indicators - The University of Michigan consumer sentiment index fell to 64.7 in January, a decline of 10% and a steeper drop than expected [1] - The 5-year inflation outlook in the survey is the highest since 1995 at 3.5% [1] - Existing home sales sank by 4.9% to a seasonally adjusted rate of 4.08 million in January, marking the sharpest decline in seven months [1] Market Performance - Major U.S. stock indices experienced declines, with Nasdaq 100 down 1.05%, S&P 500 down 0.78%, Dow Jones down 0.99%, and Russell 2000 down 1.34% [6] - Natural gas futures rose by 4.5% to $4.3/MMBtu, reaching a 25-month high due to increased heating demand and production disruptions [4] Company News - UnitedHealth Group Inc. shares slumped nearly 9% following reports of a Department of Justice investigation into the company's Medicare billing practices [7] - Upcoming earnings reports include companies such as Solaris Energy Infrastructure, Iamgold Corp., Celsius Holdings, Glaukos Corp., MercadoLibre, The RealReal, Nu Holdings, Globant, Block, Rivian Automotive, Domino's Pizza, Zoom Communications, Diamondback Energy, and Kosmos Energy [7]