Consumer sentiment index slips to 99.1 in January

The numbers: The University of Michigan said the preliminary reading of its consumer sentiment index in January was 99.1, down slightly from 99.3 in the prior month.

Economists polled by MarketWatch expected a reading of 99.6.

The sentiment indicator covers how consumers view their personal finances as well as business and buying conditions.

The big picture: The healthy job market and rising stock market are bolstering consumer confidence.