The last of today's data deluge: Disappointing confidence figures

The last economic report just hit the tape -- June consumer confidence out of the University of Michigan. The confidence index actually fell to 83.7 in June from 88.3 in May, with both the current conditions and outlook readings falling. More importantly, inflation expectations rose. Consumers expect inflation to rise 3.5% over the next year. That's up from 3.3% in May and the highest reading since last August.