2017 Economic Calendar
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Market Reflections  

August 1, 2017
Continued weakness in inflation is Tuesday's top news where PCE price indexes, both overall and the core, came in flat in July and at roughly 1.5 percent rates year-on-year. Personal spending managed only a slight gain and personal income none at all. Construction spending showed similarly soft June results though early news from July is good, headlined by a slight gain in unit vehicle sales and including another strong ISM report that offset another moderate PMI manufacturing report.

Stocks were up with the Dow gaining 0.3 percent to 21,963 and another record. Money moved into Treasuries, pulling down the 10-year yield by 4 basis points to 2.25 percent. The euro is sitting right at $1.8000 but the dollar index managed to post a small gain to 93.07. Oil has quickly faded from $50, ending just above $49.

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