A.M. Update

S&P futures are up +0.3% Personal income rose 1.0% in January (consensus 0.5%) following a 0.3% increase in December. Personal spending rose 0.2% in January (consensus 0.2%) following a 0.7% increase in December. The PCE Price Index rose 0.2% in January (consensus 0.4%) following a 0.1% increase in December (revised from 0.2%). The core-PCE Price…