The personal spending growth rate from June was revised to 0.5% from 0.4%. Separately, the core PCE Price Index increased 0.1% in July (Briefing.com consensus +0.1%), showing a year-over-year increase of 1.6%. Read More The inflation data failed to convince investors that more than one fed funds rate hike is warranted this year. The implied probability of a rate hike at the September meeting ticked down to 30.0%, slipping from Friday's 33.0% likelihood. Fed funds futures were on the rise last week following somewhat hawkish remarks from the Jackson Hole Symposium. Fed Chair Yellen stated that the case for a rate hike had strengthened in recent months while Fed Vice Chair Fischer said that more than one rate hike could take place before the end of 2016. In company specific news, Micron (MU 16.84, +0.33) has gained 2.0% after Stifel raised its target price on the stock to $18 from $15. The firm noted that it sees trends indicating an equilibrium between supply and demand in memory markets. Square (SQ 11.86, -0.18) has slipped 1.5% in pre-market trade following a downgrade to "Neutral" from "Buy" at BTIG research. 9:17 am On The Wires (:WIRES) : The Boards of Directors of Banc of California (BANC) and Banc of California, National Association have appointed Albert J.
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