Stock Market Update

The S&P 500 futures are down 30 points and are trading 0.5% below fair value, the Nasdaq 100 futures are down 193 points and are trading 0.8% below fair value, and the Dow Jones Industrial Average futures are down 125 points and are trading 0.3% below fair value.

Personal income increased 0.3% in November (Briefing.com consensus 0.4%) following a 0.7% increase in October (revised from 0.6%). Personal spending increased 0.4% in November (Briefing.com consensus 0.5%) following a revised 0.3% increase in October (from 0.4%).

The PCE Price Index increased 0.1% in November (Briefing.com consensus 0.2%) following a 0.2% increase in October. The core-PCE Price Index, which excludes food and energy, was up 0.1% in November (Briefing.com consensus 0.2%) following a 0.3% increase in October.