The University of Michigan released its consumer confidence preliminary estimate for the month of January, where consumer confidence rose to 72.8 from the prior estimate of 72.5 but below median estimates of 74.0, where the economic conditions index rose to 81.0 from 78.0, while the economic outlook index declined to 67.5 from 68.9.

The 1-year inflation expectations index rose to 2.8% from 2.5%, while the 5-year inflation expectations index rose slightly to 2.8% from 2.7% reported back in December.