Stock Market Update

The S&P 500 futures currently trade 61 points above fair value.

Personal income increased 0.3% month-over-month in June (Briefing.com consensus 0.3%) following an unrevised 0.4% decrease in May.

Personal spending increased 0.3% (Briefing.com consensus +0.4%) following an upwardly revised flat reading (from -0.1%) in May.

June PCE Prices increased 0.3% (Briefing.com consensus 0.3%) after an upwardly revised 0.2% increase (from 0.1%) in May.

June Core PCE Prices increased 0.3% (Briefing.com consensus 0.3%) after an unrevised 0.2% increase.

Initial jobless claims for the week ending July 26 increased by 1,000 to 218,000 (Briefing.com consensus: 220,000).

Continuing jobless claims for the week ending July 19 remained at 1.946 million; the prior level was revised to 1.946 million (from 1.955 mln).

The Q1 Employment Cost Index was up 0.9% (Briefing.com Consensus 0.8%) for the three-month period ending in June 2025, following a 0.9% increase for the three-month period ending in March 2025.