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Economy

Personal Income and Spending Beat Estimates — and the Weather

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By Jon C. Ogg Published
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Monday’s economic reports targeted personal income and personal spending, but we would note that the markets are currently focused on Russian military action in the Ukraine. This morning’s report also covers the month of January at a time when many more current readings have been out covering February data.

Personal income rose by 0.3%, yet spending rose by 0.4%. Weren’t people supposed to be locked up in their houses due to extreme cold weather?

Bloomberg had estimates calling for a gain of 0.2% on income and a gain of 0.1% in spending. Dow Jones had estimates for a gain of 0.3% on income and 0.1% on spending.

With the markets focused on geopolitical issues, the summary is really all that is needed at this time.

S&P 500 futures are down 15 points and the DJIA futures are down about 120 points.

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About the Author Jon C. Ogg →

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.

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