The University of Michigan’s preliminary read on consumer sentiment in July was a bit disappointing.

The headline index slipped to 81.3 from 82.5 in June.

Economists estimated the headline index would climb to 83.0.

The economic conditions sub-index climbed to 97.1 from 96.6.

However, the outlook sub-index fell to 71.1 from 73.5.

This disappointing report comes despite higher stock prices and lower gas prices.

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