Stock Market Update

The S&P 500 futures are up 46 points and are trading 0.8% above fair value, the Nasdaq 100 futures are up 225 points and are trading 1.2% above fair value, and the Dow Jones Industrial Average futures are up 262 points and are trading 0.7% above fair value.

Personal income increased 0.2% in June (Briefing.com consensus 0.4%) following a revised 0.4% increase in May (from 0.5%). Personal spending increased 0.3% in June (Briefing.com consensus 0.3%) following a revised 0.4% increase in May (from 0.2%).

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