May 30, 2017
Personal income and consumer spending were mostly solid in April but the report's inflation data, which the FOMC tracks closely, proved soft including a 1.5 percent rate for the core (less food & energy) which is the lowest in more than a year. Consumer confidence data were more solid, especially the current assessment of the jobs market that points to strength for Friday's employment report.
Markets held steady in narrow ranges with the Dow posting a 0.2 percent loss to 21,029. The dollar index, reflecting increasing strength for the euro, edged 0.3 percent lower to 97.28. And interest rates continue to move lower with the 10-year Treasury yield at 2.21 percent.