Uni Michigan sentiment beats expectations in June

US consumer sentiment beat expectations in June, according to a widely followed gauge.

The University of Michigan Index rose to 94.6 in June, rebounding from May’s six-month low of 90.7 and exceeding analysts’ expectations of a 91.2 reading.

"The stronger-than-expected print for consumer sentiment in early June supports our expectation of solid consumption growth over the next several months," analysts at Barclays said in a note.