Rick Santelli joins 'Squawk on the Street' with the latest economic data to cross the tape.

The University of Michigan's preliminary consumer sentiment index registered at 55.4, falling short of the anticipated 58.1 and marking its lowest level since May. Both current conditions and future expectations declined, indicating weakening consumer confidence.

Inflation expectations for the next year held steady at 4.8%, the highest since June, while the 5- to 10-year outlook rose to 3.9%, exceeding forecasts and previous readings. Despite these figures, market reactions remained muted, with long-term interest rates hovering near recent levels.

Consumer sentiment comes in at 55.4 vs. 58.1 estimated

Let's get the final big economic data point of the week when you miss with Rick Santelli. Hey Rick Yeah, you know this has a whiff of stagflation to it folks university of michigan sentiment and all the inflation numbers the preliminary sep it could still change 55 point foreign headline we're expecting a number well north of that and rearview mirror 58 too so sequentially lower lowest since may of 25 61 2 on current conditions same scenario less than expected less than last look sequentially lower also the lowest since may if we look at expectations what lies ahead well the scenario doesn't change 51.8 also the lowest since may this follows 55.9 so there's your weak consumer confidence now let's look at inflation 4.8 expected 4.8 remains but that doesn't dismiss the fact that still the highest level since june although i do think surveyed inflation that kind of runs afoul of logic in certain instances considering it was way up in may at 6.6 and finally the 5 to 10 year look 3.9 that's about a half a percent more than expected it's four tenths more than the rearview mirror and 3.9 to find a higher inflation you're going back to june when it was four percent we started out the year at 3.2 the recent little watermark was 2.8 and that was in march of 24 so i'm surprised we're not getting a little bit more lift on the long end of the market which didn't spend much time under four percent it was like a beach ball underwater it popped right back matter of fact right now we're getting close to unchanged on the week we saw the last week at 408 uh right now uh hovering at 406 and 406 is up four on the day down only two on the week we want to pay close attention to how we close especially after what now looks to be developing on the annual chart is a double bottom on a closing level basically right around or slightly above four percent sarah back to you

President Trump has backed down on his plans to send the National Guard to Chicago, for now. Instead, he told Fox News that federal troops will be deployed to a different city.

Chicago

Trump backs down on sending National Guard to Chicago

A suspect is in custody after the deadly shooting of conservative activist Charlie Kirk. Authorities say 22-year-old Tyler Robinson is being held at Utah County Jail, pending formal state charges, which are expected to be filed on Tuesday. CBS News' Andres Gutierrez and Anna Schecter have more.

Orem

What we know about the Charlie Kirk shooting suspect's arrest

The United Nations General Assembly has overwhelmingly voted to endorse a declaration outlining "tangible, timebound, and irreversible steps" towards a two-state solution between Israel and the Palestinians ahead of a meeting of world leaders.

New York

Middle East Conflict

UN endorses two-state solution declaration that condemns Hamas

22-year-old Tyler Robinson from Utah, suspected of killing conservative activist Charlie Kirk at a university in the city of Orem, was in custody on Friday (Sept. 12), Utah Governor Spencer Cox told reporters.

Utah man suspected in Charlie Kirk murder taken into custody

In Tunisia, the humanitarian aid flotilla for Gaza is set to leave Tunis. About 40 boats will try to deliver aid to the Palestinians under blockade. In Tunisia the departure was not easy, as two boats from the flotilla were subject to reported drone attacks.

Tunis

Gaza aid flotilla prepares to set sail after reported drone attacks

Brazil's Supreme Court has sentenced firebrand ex-president Jair Bolsonaro to 27 years in prison for coup plotting at the end of a landmark trial that divided the nation and drew U.S. fury.

Brasilia

Brazil's ex-president Jair Bolsonaro sentenced to 27 years in prison

Israeli Prime Minister Benjamin Netanyahu signed an agreement to push ahead with a controversial settlement expansion plan that would cut across land that the Palestinians seek for a state. "There will never be a Palestinian state. This place is ours," Netanyahu said.

Jerusalem

Netanyahu signs West Bank settlement expansion plan

The United Nations Security Council has condemned the Israeli attack on the Qatari capital Doha on Tuesday and called for de-escalation in a statement agreed by all 15 members, including Israel’s chief ally, the United States.

Doha

UNSC members condemn Israel over deadly strike on Qatar

Ryan Routh, accused of attempting to assassinate former President Trump in South Florida last year, is representing himself in court. As the trial opened, Routh forfeited his chance to deliver an opening statement, setting the stage for proceedings.

Fort Pierce

Trump assassination attempt suspect defends himself in trial

Photos of a "person of interest" in the assassination of Charlie Kirk were released by the Salt Lake City FBI. Authorities are searching for the person who shot and killed the conservative activist at an event at Utah Valley University.

Photos released of "person of interest" in Charlie Kirk assassination

Authorities shared new details about the suspect's movements leading up to the fatal shooting of conservative activist Charlie Kirk. The search for the suspect continued on Thursday.

FBI says it has good video of Charlie Kirk shooting suspect

President Donald Trump announced Thursday that he will award conservative activist Charlie Kirk, who was assassinated during a campus event in Utah, the Presidential Medal of Freedom posthumously.

Washington

Trump says he'll award Charlie Kirk the Presidential Medal of Freedom

Authorities say the weapon used in the fatal shooting of conservative activist Charlie Kirk has been recovered and law enforcement tracked the movements of the suspect.

Officials: Weapon in Charlie Kirk shooting recovered; suspect tracked

Trump vowed retribution in an Oval Office address after his close ally and conservative activist Charlie Kirk was fatally shot on a campus in Utah. A massive search for the killer intensified following Kirk's death, with police going door-to-door looking for the shooter.

Trump pledges to find killer of conservative activist Charlie Kirk

The UAE’s President Mohammed bin Zayed visited Doha a day after Israel’s strike, signalling Gulf solidarity. Qatar’s prime minister called the strike “state terror,” accusing Israel of killing hopes for a hostage deal and demanding Netanyahu face justice.

Qatar seeks ‘collective response’ to Israeli attack

Poland is rejecting the claim that Russian drones crossed into Polish airspace by accident and says the move is reckless and could lead to potential escalation.

Warsaw

Ukraine Invasion

Europe on edge after Russian drones invade Polish airspace

Prince Harry and King Charles had a private tea in London, Buckingham Palace. This marks their first meeting in nearly two years. Harry, the Duke of Sussex, last saw his father in early 2024, shortly after it was announced the King was undergoing cancer treatment.

London

King Charles, Prince Harry meet for the first time in nearly 2 years

U.S. President Donald Trump says rightwing political activist Charlie Kirk is dead after being shot in the neck at a university campus event in Utah. There is not a suspect in custody.

Conservative activist Charlie Kirk killed in shooting, Trump says

Brazilian Supreme Court Justice Luiz Fux voted on Wednesday (September 10) to acquit former President Jair Bolsonaro of forming a criminal organization and voted to annul his trial over jurisdiction, breaking with peers and raising the odds of an appeal after the final verdict this week.

Brazilian judge votes to annul Bolsonaro case, breaking with peers

U.S. President Donald Trump urged EU officials on Tuesday to hit China with tariffs of up to 100% as part of a strategy to pressure Russian President Vladimir Putin, according to a U.S. official and an EU diplomat.

Global Tariffs

Trump urges EU to impose 100% tariffs on China and India, sources say

Poland shot down drones that entered its airspace during a widespread Russian attack in western Ukraine, with the NATO member calling the incursion "an act of aggression." It marks the first time a member of the alliance has fired shots in the war.

Poland downs Russian drones in first shots fired by NATO member in war

Two Brazilian Supreme Court justices voted to convict former President Jair Bolsonaro of leading a criminal conspiracy to overturn the 2022 election, as they cast the first votes in the final phase of the ex-president's trial.

Two Brazil Supreme Court justices vote to convict Bolsonaro

Nepal’s prime minister has stepped down with at least 22 people dead, the country’s parliament in flames and its main airport shut down during a violent revolt. The unrest started over a social media ban and grew into a broader anti-corruption protest.

Kathmandu

Nepal’s parliament set on fire, PM resigns as protests spiral

U.S. President Donald Trump can't escape questions about Jeffrey Epstein as a congressional committee released a suggestive personal note to Epstein allegedly from Trump, for the convicted sex offender’s 50th birthday.

White House denies alleged Trump letter to Epstein is authentic

Israel's military said it "conducted a precise strike targeting the senior leadership of the Hamas terrorist organization," amid reports of large explosions in Qatar's capital city, Doha.

Hamas says none of its leadership killed in Israeli strike on Doha

French President Emmanuel Macron has named loyalist Sebastien Lecornu, a one-time conservative protégé who rallied behind his 2017 presidential run, as prime minister. Analysts say France is in the midst of a complicated political crisis.

Paris

France's Macron names loyalist Lecornu as new PM

Videos circulating online reveal a luminous flying object hitting the vessel. No crew members were harmed. Activists part of the flotilla say they will not be deterred by the attack, and that their mission will continue as planned.

Flotilla for Gaza ship struck by drone off Tunisia, organizers say

The Bureau of Labor Statistics said the U.S. labor market added 911,000 fewer jobs between April 2024 and March 2025. CBS News MoneyWatch correspondent Kelly O'Grady breaks it down.

U.S. jobs growth revised down by 911,000

A Michigan judge has dropped criminal charges against 15 people who were accused of trying to falsely certify Donald Trump as the winner of the 2020 presidential election. CBS News' Shanelle Kaul has the latest.

Michigan

Judge tosses case against 15 accused fake Trump electors in 2020

Israel says it carried out a strike targeting Hamas leaders. One Israeli official says it happened in Doha, Qatar. CBS News' Ramy Inocencio reports.

Breakdown