- Stock futures hold on to slim gains following an unexpected drop in U.S. personal spending for July; S&P and Dow +0.1%, Nasdaq +0.2%.
- Overnight action has been subdued with Asian markets ending mixed, while major European indexes trade near their flat lines.
- U.S. volume has been extremely light for several days, and a Friday before a three-day holiday weekend almost certainly means more of the same.
- A major advance or retreat seems unlikely, so the S&P's 3.4% gain so far this month could complete its strongest showing since February and best August since 2000.
- Treasury prices are slightly lower, with the 10-year yield up one basis point at 2.35%.
- Still ahead: Chicago PMI, consumer sentiment.
Stocks hang on to gains as consumer spending posts surprise drop
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