A few minutes ago U.S. Bureau of Economic Analysis released a set of hard data from the US economy. First of all, investors were offered personal income and spending data for the month of May:
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Personal Income: -4.2% MoM vs -6.0% expected (previous: 10.5% MoM)
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Personal Spending: 8.2% MoM vs 9.0% expected (previous: -13.6% MoM)
Apart from that, traders were also waiting for data concerning PCE. Crucial Core PCE results were as follows:
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Core PCE: 0.1% MoM vs 0.2% expected (previous: -0.4% MoM)
As it turned out, personal spending data did not manage to beat market expectations. Nevertheless S&P 500 (US500) does not seem to care as the index is gaining a little.
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