U.S. stock futures were trading south Tuesday as investors sifted through a number of quarterly results as well as reports on personal-income and inflation.
U.S. consumers boosted spending in June for a third straight month, however, they were able to do so largely by saving less, as income growth haven’t fully kept up with spending.
The PCE index, the Federal Reserve’s preferred inflation barometer, increased 0.9% in the 12 months ended in June. That is unchanged from in the prior month. The annual rate of core inflation was flat at 1.6%.
