Consumer sentiment dips in July

In general, it was another pretty good week for the U.S. economy. Almost every economic data point indicated a positive for the economy, second quarter earnings have been in-line with expectations, and the stock market held its own, with the Dow pushing to close above 9,000 for the week.

One data point that was not a positive, however: the Reuters/University of Michigan Surveys of Consumers said its consumer sentiment index for July (final) fell to 66.0 from 70.8 in June, Reuters reported Friday. The index hit a cycle low of 55.3 in November 2008; the index's record low of 51.7 was set in May 1980.