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.