Source: ADVFN Newsdesk

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While the Labor
released a report on Thursday showing a modest decrease in
initial jobless claims in the week ended June 21st, the drop only offset the
upward revision to the previous week’s data.

The report said initial jobless claims edged down to 312,000, a decrease
of 2,000 from the previous week’s revised level of 314,000.

Economists had been expecting jobless claims to dip to 310,000 from the
312,000 originally reported for the previous week.

Personal income in the U.S. increased in line with economist estimates in the
month of May, according to a report released by the Commerce Department on
Thursday, although the report also showed a smaller than expected increase in
personal spending.

The report said personal income rose by 0.4 percent in May after climbing by
0.3 percent in April. The continued income growth matched the consensus

Meanwhile, the Commerce Department said personal spending edged up by
0.2 percent in May after coming in unchanged in April. Economists had expected
spending to increase by 0.4 percent.

A closely watched reading on inflation also showed that core consumer prices,
which exclude food and energy prices, rose at an annual rate of 1.5 percent in
May compared to the 1.4 percent growth in April.

The Kansas City Federal Reserve is due to release the results of its
manufacturing survey at 11 am ET. Economists expect the manufacturing index for
June to slip to 9 from 10 in May.

The Treasury Department is scheduled to announce the results of its
auction of $29 billion worth of seven-year notes at 1 pm ET.

St Louis Federal Reserve Bank President James Bullard is also scheduled
to speak on monetary policy and income inequality in New York at 1:05 pm ET.

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