Stock Market Update

The S&P 500 futures trade 30 points below fair value.

Personal Income rose 0.8% in April (Briefing.com consensus 0.3%) after increasing a revised 0.7% (from 0.5%) in March. Personal Spending was up 0.2% in April (Briefing.com consensus 0.2%) after increasing 0.7% in March.

The PCE Price Index was up 0.1% in April (Briefing.com consensus 0.1%) after no change in March while the core PCE Price Index was up 0.1% in April (Briefing.com consensus 0.1%) after increasing a revised 0.1% (from 0.0%) in March.

The advance goods trade deficit reached $87.6 bln in April, down from a $162.3 bln deficit in March.

Advance Retail Inventories were down 0.1% in April after falling a revised 0.3% (from 0.2%) in March while advance Wholesale Inventories were unchanged in April after rising a revised 0.3% (from 0.4%) in March.