Modestly Positive Fundamentals.

Jobless Claims (week ended 6/21/2014)

– New Claims  (seasonally adjusted) 312,000. Previous was 314,000

– New claims (not seasonally adjusted)  totaled 304,169 an increase of 2,832 from the previous week

– 4-week Moving Average 314,250

 

Personal Income and Outlays

– Personal Income Month/Month +0.4%. Previous was +0.3%

– Consumer Spending Month/Month  +0.2%. Previous was -0.1%

– PCE Price Index Month/Month +0.2%

– Core PCE price index +0.2%

– PCE Price Index year/year +1.8%

– Core PCE price index year/year +1.5%

Income was up modestly but spending for the last 2 months is flat.

 

Kansas City Federal Reserve Manufacturing Index  (June 2014)

– Index 6.  Previous was 10.

This is a survey index of manufacturing in the 10th Federal Reserve District.