S&P Futures vs fair value

S&P futures vs fair value: +6.7. Nasdaq futures vs fair value: +8.2. The data that hit the wires at the bottom of the hour fell to the bullish side of things as May job growth (157K) was stronger than expected while the core-PCE number (+0.1%) in the personal income and spending report was lower than expected. That combination has provided an added lift to the futures market, which is keying off the view that economic activity appears to be picking up while inflation is moderating.