Welcome back to Squawkbox. Rick Santella here live on CME HQ with the breaking news of the morning. We have jobless claims, ECI, employment cost index, and personal income and spending.Let's start with income. Remember last month we took a ding minus 4/10en of a percent. That was weakest going back to the fall of 21.Rebounding up 3/10, a tenth better than expected. And that would comp well April we're up 7/10. Now let's look at personal spending up 3/10 a tenth light but a nice reversal before any revisions ...

Personal income fell in May after a new Social Security program skewed the data. https://t.co/uC7Wg5zT2U ...

Darren. >> Thank you so much for joining us. We appreciate it.>> Personal income and spending numbers for me. Plus the Fed's favorite inflation gauge PCA, PCE data treasuries Rick Santelli. Just do it Rick.Tell us what you got. >> Yes. May income spending and all the inflation numbers.And there are surprises here. Personal income which really has been quite strong throughout 2025 takes a bit of a hit here. Down 4/10.We were looking for a number up 3 to 4 tenths. This would be the first negative number going ...

Big personal income miss on month over month.Economy for the majority of America has not been great for far too long, despite what many people wanna speculate that its fine!This tho just means rate cuts can be more justified. https://t.co/UA2ikKdl7H ...