A mixed week, which makes it somewhat of an improvement over last.

Richmond Fed mirrored other MFG metrics and did a significant reversal into negative territory in May. Kansas City was steady and Durable goods, while moderating, remained positive for Apr. 

Housing continued to show decline in New and Pending.

In the 2nd estimate for Q2 GDP, the number was revised down a tic.  Remember, ATL Fed is currently forcasting a positive reading for Q3 staving off concerns of recession.  For now at least.

Corp Profits dipped but remain in very strong territory.

Consumers remain subdued.  Can ya blame them?

But State Street Investors are seeing signs of liight.  

Jobless Claims dipped slightly, but remain in the "Who Cares" range in historically low territory.

Personal Income continues to grow, but not keeping pace with inflation.  Spending remains healthy.

The big news for me this week is the decrease in Person Consumption Expenditure(PCE).  This is an important measure of inflation and generally preceeds/leads CPI.  Potentially massive news,  but one month does not a trend make.  Will continue to watch ALL inflation data with great interest as that is a critical factor right now.

Don't feel good enough to go better than C.  Let's see what next week, with particualr attention on the Employment Situation, may bring.