Tuesday, August 3, 2010

Pre-Market Floor Talk Futures Pullback Amid Earnings & Economic Data

08:35 am : S&P futures vs fair value: -3.40. Nasdaq futures vs fair value: -4.90. The tone to premarket trade remains flat to modestly lower, though stock futures have slipped with the release of the latest data. June personal income was flat, as had been expected, on average, by a sample of economists polled by Briefing.com. Spending in June was also flat, though a slight increase of 0.1% had been expected. Core personal consumption expenditures were also flat when a tepid 0.1% increase had been expected. As for the prior month's data, income was revised lower to reflect a 0.3% increase, spending was trimmed to reflect a 0.1% increase, and core personal consumption expenditures were reduced to reflect a 0.1% monthly increase.

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