Futures suggest bounce from yesterday’s losses U.S. equity futures are pointing to a higher open as the market looks to get back to its winning ways. Investors will receive a host of economic data points early in the session, which will most likely be followed by the departure of many market participants as they get away for the Labor Day holiday. Today’s economic reports include personal income and spending reports for July, the Chicago PMI business barometer, and the University of Michigan consumer confidence final reading for August.
Japan's core CPI rose 3.3% y/y in July Japan's core CPI rose 3.3% y/y in July, as expected following the 3.3% core (excludes fresh food only) gain in June. The "core-core" CPI (excludes both food and energy) rose 2.3% y/y in July after 2.3% in June. Total CPI rose 3.4% y/y in July after the 3.6% June expansion. Tokyo core CPI expanded 2.7% y/y in August after a 2.8% rise in July. Tokyo "core-core" CPI revealed a 2.1% expansion figure in August after 2.1%. Tokyo total CPI rose 2.8% y/y in August following a 2.8% figure in July. The expansion in national core CPI (excluding the impact of the April tax hike) extends the growth analysts've seen for over a year, adding to the evidence that the BoJ's ongoing effort to end deflation is meeting with some success.