This chart shows the year-over-year changes in Personal Income, Disposable Personal Income, and Personal Consumption Expenditures, both in Real (adjusted for inflation) and Nominal (not adjusted for inflation) terms, in relation to the S&P 500.
Personal Income is a widely-followed data set for market timers. Rising Personal Incomes yield more consumer spending, as well as more cash inflows into the stock market. Because these data releases lag their sampling periods, and are revised for many months, they are difficult to use to time the stock market.
NOTE: Use the chart legend link above the Nominal Personal Income chart to display hidden PCE (Personal Consumption Expenditures) values.}
Personal Income Chart vs. S&P 500
( HINT: Click-and-drag left-to-right on the top chart (S&P 500) to zoom in to a specific date range. Double-click on S&P 500 chart to zoom back out. )