DTT Buzz
Exclusive Market Analysis, Alerts and Commentary from the DaytradeTeam trading staff
Friday, June 27, 2008
Personal Spending Data Better Than Expected
May Personal Spending 0.8% vs 0.7% consensus
May Personal Income 1.9% vs 0.4% consensus
May's personal income and spending data is good news! Personal income and spending were higher than expected. The jump in data is attributed to the economic stimulus checks consumers have been receiving from the government. Disposable income increased by 5.7%, the largest amount in almost 33 years. This should boost the market, for a little while. The fear is the boost will only last as long as the checks do. Once the money has been spent, the threat of a recession will be back. There has been calls from congress for a second stimulus package to prevent a slump in the second half of the year. Currently the administration is not acknowledging the calls.
Farewell
Megan Grant
DaytradeTeam
May Personal Income 1.9% vs 0.4% consensus
May's personal income and spending data is good news! Personal income and spending were higher than expected. The jump in data is attributed to the economic stimulus checks consumers have been receiving from the government. Disposable income increased by 5.7%, the largest amount in almost 33 years. This should boost the market, for a little while. The fear is the boost will only last as long as the checks do. Once the money has been spent, the threat of a recession will be back. There has been calls from congress for a second stimulus package to prevent a slump in the second half of the year. Currently the administration is not acknowledging the calls.
Farewell
Megan Grant
DaytradeTeam
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