U.S. stock futures were sligtly lower this morning after yesterday’s big run-up and ahead of the day’s economic reports.
Personal income and consumer spending were unchanged in June, roughly in-line with expectations. Factory orders likely dipped in June. Economists call for a 0.5% decline, which would be better than May’s 1.4% drop. The results come a day after a broader manufacturing report showed expansion in the sector in July. The report is due at 10:00 am ET. At the same time, the National Association of Realtors is expected to report pending home sales rose in June, but remains at weak levels.
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