Futures were lower ahead of several economic reports and following the markets’ biggest one-day percentage gain since July. The Dow and S&P 500 gained more than 2% yesterday.
On the economic front, the Commerce Department said personal income for September was flat, while consumer spending declined 0.5% from a revised 1.4% increase in August. The decline was in-line with expectations, as the auto buying incentives ended.
Still to come is the final draft of October consumer sentiment at 9:55 am ET, with economists estimating it at 69.8. Shortly after that, existing home sales data and the Chicago PMI, a reading on regional manufacturing, will be released.
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