Income Up Way More Than Expected

January income rose much greater than expected, and the equity markets like the numbers.

January income rose 1.0%, versus expectations of 0.3%. Income rose 0.4% in December. Spending rose less than expected, rising 0.2% versus expectations of 0.4%. This is down from the 0.5% rise in spending in December.

Equity futures are sharply higher on the back of these numbers. Dow futures are up 58 points, Nasdaq futures are up 12.25 points, and S&P 500 futures are up 6.6 points.