Personal income jumped 1.4% in May, versus the estimate of a 0.3% gain, and April was revised from 0.5% to 0.7%. Personal spending increased 0.3% in May, in line with expectations. The PCE Price Index rose 0.1% year-over-year in May, matching the consensus forecast, and April's gain was upwardly revised from 0.4% to 0.5%. The core PCE Price Index, which excludes food and energy, also gained 0.1%, to match expectations.
Final University of Michigan's Consumer Sentiment Index improved again, rising from 69.0 in the preliminary reading to 70.8 in the final revision for June, above the forecast for the index to remain at 69.0.
The Dow Jones Industrial Average fell 34 points (0.4%) to close at 8,438, the S&P 500 Index lost 1 point (0.2%) to 919, and the Nasdaq Composite rose 9 points (0.5%) to 1,838. Crude oil fell $1.07 to $69.16 per barrel, and gold added $1.20 to $940.45 per ounce. For the week, the DJIA fell 1.2%, the S&P 500 Index lost 0.3%, and the Nasdaq Composite added 0.6%.
Magnificent Seven Update
Weekly Analysis Of Magnificent Seven ETFs
Daily Update Of Open Positions...Stocks & ETFs
