Stock Market Update

The S&P 500 futures are up 26 points and are trading 0.5% above fair value, the Nasdaq 100 futures are up 149 points and are trading 0.8% above fair value, and the Dow Jones Industrial Average futures are up 90 points and are trading 0.2% above fair value.

Reported a short time ago, personal income was up 0.3% month-over-month in July (Briefing.com consensus 0.2%) and personal spending was up 0.5% (Briefing.com consensus 0.5%).

The PCE Price Index was up 0.2% (Briefing.com consensus 0.2%), leaving it up 2.5% year-over-year, unchanged from June. The core-PCE Price Index was up 0.2% (Briefing.com consensus 0.2%), leaving it up 2.6% year-over-year, unchanged from June.

The 2-yr note yield is up three basis points to 3.92% and the 10-yr note yield is up one basis point to 3.88%.