Consumer sentiment comes in at 55.4 vs. 58.1 estimated

Economic Sentiment and Inflation - The University of Michigan sentiment index shows a preliminary reading of 55.4%, which is lower than expected and the lowest since May [2][3] - Consumer confidence has weakened, with the current conditions index also showing a decline, marking the lowest level since May [2][3] - Inflation expectations remain at 4.8%, the highest level since June, despite a previous peak of 6.6% in May [3][4] Long-term Inflation Outlook - The five to ten-year inflation outlook is at 3.9%, which is higher than expected and reflects a significant increase from earlier in the year [3][4] - The long-term market has not shown much movement below 4%, indicating a potential resistance level [4][5] Market Performance - Current market levels are hovering around 406, showing minimal change over the week, with a focus on closing levels that may indicate a double bottom pattern around 4% [5]