U.S. consumer confidence took a hit this January, as indicated by the University of Michigan's Consumer Sentiment Index dropping to 71.1 from 74.0 at the end of December. Analysts polled by Dow Jones Newswires had anticipated a figure closer to 73.2, highlighting the unexpected dip following a mid-month reading of the same value.

Simultaneously, a report from S&P Global revealed a slowdown in U.S. economic activity. The S&P Global Composite PMI, which tracks both manufacturing and services sectors, decreased to 52.4 from 55.4 last month. Although a score above 50 still signals growth, the reduction underscores a decelerating pace within the U.S. private sector.