Chris Hondros/Getty ImagesOn this last day of the month, 3 big economic datapoints are coming out.
From Calculated Risk:
• At 8:30 AM ET, the BEA will release the Personal Income and Outlays for April. The consensus is for a 0.1% increase in personal income in April, and for no change in personal spending. Also for the Core PCE price index to increase 0.1%. Based on the second estimate of GDP, there will be an upward revision to outlays for Q1.
• At 9:45 AM, the Chicago Purchasing Managers Index for May will be released. The consensus is for an increase to 50.0, up from 49.0 in April.
• At 9:55 AM, the Reuter’s/University of Michigan’s Consumer sentiment index (final for May). The consensus is for a reading of 83.7.