The U.S Department of Commerce releaseed the income report for December, showing that personal income increased by 0.5 percent last month, beating median estimates of 0.4 percent and the prior estimate of 0.1 percent, while personal spending fell to a flat estimate in December, missing analysts' median estimates of 0.1 percent.

The PCE deflator increased by 2.4 percent at the end of last year, compared with the prior revised rise of 2.6 percent and up from 2.3 percent forecasted, while Core PCE rose by 0.2 percent, above forecasts of 0.1 percent, while for the year ended December, Core PCE gained 1.8 percent as projected from the prior 1.7 percent.