The Day Ahead: Personal Income and Consumer Sentiment
August 28, 2009 – 4:27 amStocks are looking to continue the rally from yesterday afternoon, with equity futures pointing upwards between 0.2% and 0.4%. Data at 8:30 could change that, as the Personal Income & Outlays report is one of this week’s key releases. But expectations are that incomes rose slightly and consumption made its third straight gain. If so, markets should open higher when the opening bell sounds at 9:30.
“Financial markets are welcoming more risk this Friday morning, with U.S. stock futures pointing higher, European bourses and most Asian equities rallying, and the USD and JPY slightly weaker,” said Jennifer Lee from BMO. “Buried beneath the green, though, was another worrying selloff in Chinese stocks.” …(read more)