US consumer sentiment fell to its lowest level in 8 months, while wholesale prices rose 0.2% in June, coming in slightly hotter than expected.

Glenmede VP of investment strategy Mike Reynolds joins Catalysts to give insight into the consumer sentiment numbers and what it means for the broader market moving forward.

"One of the things we've noticed over the past year or so is consumers are telling survey pollsters one thing but then going out and doing different things with their wallet. So while we've had recession-like readings on consumer sentiment, retail sales, while not really sort of hitting it out of the park, have actually been relatively robust both on a real and a nominal basis." says Reynolds.

He continues with: "So we're kind of looking skeptically at consumer sentiment numbers now. We're seeing in a lot of cases, consumers are sensitive to price levels, but we know inflation has actually been getting a little bit better over the last few months. So in general, we don't think that this is the bottom falling out for the consumer. "

For more expert insight and the latest market action, click here to watch this full episode of Catalysts.

This post was written by Nicholas Jacobino