Highlights
August options expire tomorrow, Friday, July 26. First notice day for August futures is July 31.
Yesterday morning, the US Government reported a revision of the second quarter GDP of +2.8%; the market expected a +2.1%. The first quarter GDP had been disappointing at +1.4%.
Personal Consumption Expenditures (PCE) is a measure of consumer spending on goods and services among households. For the second quarter, PCE rate was up 2.6%, down from 3.4% in the first quarter.
Retail food prices increased 0.9% in the first 6 months of 2024, lower than the midyear rate of 4.8% in 2023 and the 20-year average of 1.9%. Prices increased the most for sugar and sweets, followed by fats and oils, while declined for fish and seafood and dairy products.