A.M. Update – Core PCE Cools

S&P futures are up +0.3% after Core PCE comes in slightly cooler than consensus. Personal income increased 0.3% in April (consensus 0.3%) following a 0.5% increase in March. Personal spending increased 0.2% in April (consensus 0.3%) following a revised 0.7% increase in March (from 0.7%). The PCE Price Index increased 0.3% in April (consensus 0.3%)…