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The University of Michigan’s Consumer Sentiment Index for October dropped to 46.3, below the market expectation of 47.6. The component reflecting current economic conditions decreased to 44.7, setting a new historical low, while the expectations component edged up to 47.3, marking its first rebound since July. Consumers’ one-year inflation expectations rose to 4.7%, and five-to-ten-year inflation expectations increased to 3.5%. According to the survey director, consumers from different political parties agree that the economic outlook has weakened compared to the beginning of the year.

Latest Updates, October 9th - ** Definium Therapeutics (DFTX.O) shares rose 7.4% to $36.7 ** If the rally holds, the stock is set for its biggest single-day gain since June ** JPMorgan initiated coverage of the stock with an "Overweight" rating and a target price of $84 ** The bank stated that Definium’s lead candidate drug, DT120 ODT, has the potential to transform the treatment landscape for neuropsychiatric disorders ** Based on current data, the institution considers DT120 ODT (an LSD oral formulation for the treatment of major depressive disorder and generalized anxiety disorder) to be a "de-risked asset" ** The new target price implies a 145.7% upside from the latest closing price ** "While changes in the macro environment may present potential investment risks to the sector, we believe the positives for Definium outweigh the negatives," the bank stated ** A period of "frequent landmark events" is expected ahead, including plans to submit a new drug application to the FDA in the first half of 2027 ** The bank projects that total sales of DT120 orally disintegrating tablets (ODT) will approach $5 billion by 2035 ** Including intraday volatility, the stock has more than doubled in value year-to-date (For the convenience of non-English speakers, Reuters has automated this report’s translation into several other languages. Due to possible errors in automated translation or lack of full context, Reuters does not guarantee the accuracy of the automated translation and provides it solely as a convenience to readers. Reuters accepts no liability for any damage or loss arising from the use of automated translation.)