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U.S. consumer sentiment better than expected while stocks slide

SPX News by Newsroom on 10:34 July 27, 2018 EST

Consumer sentiment in the U.S. decreased but less than initially estimated in the month of July, the University of Michigan revealed in a report released on Friday.

The report said the consumer sentiment index for July came 97.9 from the preliminary reading of 97.1. Despite the upward revision, the index was still down from 98.2 in June.

Stocks took a breather after a strong week. The end of the week and the month may result in further selling through the last hours of trading on Friday as investors cash in profits.