CNBC Daily Open: U.S. consumers think inflation will shoot up in the year ahead
1. U.S. consumer sentiment drops significantly, indicating economic concerns. 2. Inflation outlook now at 4.9%, highest since November 2022. 3. Stocks saw a brief bounce but suffered significant weekly losses. 4. Treasury Secretary warns of potential recession, dampening market optimism. 5. Expectations for retail sales decline as consumer confidence wanes.