Consumer Sentiment Drops, Ignites Fresh Worries About Economy

WASHINGTON (MarketWatch) -- Ameican consumers were more pessimitic about the path of the economy in February, according to media reports of a survey released Friday by the University of Michigan and Reuters. The UMich index fell to 73.7 in February from 74.4 in January. Consumers were more upbeat about currrent economic conditions, with the current index rising from 81.1 in January to 84.1, the highest since March 2008. However, attitudes about the near-term deteriorated, with the expectations index falling to 66.9 in February from 70.1 in January. Expectations had risen three months in a row. Economists surveyed by MarketWatch were expecting the UMich index to rise to about 76.0.

Stock market bulls are trying to hang onto the Dow 10,000 level.