The Reuters/University of Michigan latest survey of consumer sentiments showed the gauge of consumer confidence rose to 75.3 in February, comapred to the mid-february reading of 72.5, beating median estimates of 73.0.

Within the index, we see that Economic Conditions index ticked up to 83.0 from 79.6 in February, the Economic Outlook index rose to 70.3 from 68.0. As for Inflation Expectations, the one year ahead expectations rose 3.3 percent from 3.2 percent, while the five years ahead expectations stood at 2.9 percent.