The University of Michigan’s latest survey of consumers, which includes the consumer sentiment index, is set for release at 10:00 a.m. ET.
Economists estimate that a preliminary reading of the headline index for January increased slightly to 92.9 from 92.6, according to Bloomberg.
In a client preview, Barclays economists wrote: “Stock prices have fallen sharply at the start of 2016 as concerns of a China-led slowdown in global growth have re-emerged. Jobless claims remain low and retail gasoline prices have continued to trend lower, so we would expect any slip in sentiment to be short-lived.
That said, changes in sentiment are highly correlated with equity market returns, and we see downside risk to the current level of sentiment in the near term.”