Data Feed

Published: July 31, 2007, 8:55 am

Tags: charts, futures, stocks, psychology, technical analysis, trading

S&P futures vs fair value: +13.4. Nasdaq futures vs fair value: +21.0. June personal income rose 0.4% (consensus 0.5%) while personal spending rose 0.1% (consensus 0.1%). The more closely watched core-PCE deflator rose just 0.1% (consensus 0.2%), which assuages inflation concerns as the year-over-year rate stays at 1.9% and within the Fed’s “comfort zone.” The Employment Cost Index checked in at 0.9%, matching economists’ forecasts. The futures market has held relatively steady but they were strengthening ahead of the tame inflation data and point to an even stronger start for stocks. PCE Deflator y/y +2.3% vs +2.3% consensus Personal Income +0.4% vs +0.5% consensus Personal Spending +0.1% vs +0.1% consensus PCE Core y/y +1.9% vs +1.9% consensus Q2 Employment Cost Index 0.9% vs. +0.9% Consensus PCE Core m/m +0.1% vs +0.2% consensus Gapping up: OLED +88.0%, HW +22.8%, UA +17.8%, MALL +17.3%, SUNW 10.6%, WEN +9.5%, CBG +9.5%, DJ + 8.1%, RYAAY +7.6%, ONNN

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