Reading data from serial in Python is very simple, but this is only the start.. Install PySerial with pip install pyserial
# Import the library
import serial
# Try to connect to the port
try:
fabkit = serial.Serial('/dev/tty.usbmodem1421', 9600)
except:
print "Failed to connect"
exit()
# Read data and print it to terminal... until you stop the program
while 1:
line = fabkit.readline()
print line
# We should close the connection... but since there's a while 1 loop before, we never reach this
fabkit.close()