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U.S. Futures are Higher as Bank Shares Rebound #Banks #Fed #Inflation

U.S. Futures are higher as bank shares rebound.  Bank stocks are getting a boost after the Fed stress tests, which will allow most banks to continue to pay dividends and buyback stock.  On the data front, personal income rose more than expected in May, while spending was lower than anticipated.  On the inflation front, core PCE reached the Fed’s target of 2.0% y/y in the May period.  European shares are higher with basic material stocks leading.  Asian shares closed mostly higher with Chinese stocks bouncing back after large declines over the past week.

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