Wholesale price measure rose just 0.1% in May, below forecast

Inflation Trends (PPI) - Headline PPI for May increased by 01% (one-tenth of a percent), lower than expected [1] - Previous month saw a significant decrease of 05% (minus half of 1%), the largest drop since COVID [1] - PPI excluding food and energy rose by 01% (one-tenth of a percent) [2] - Year-over-year headline PPI increased by 26%, slightly higher than the previous month's 24% [3] - PPI excluding food and energy increased by 3%, slightly lower than the previous month's 31% [4] - PPI excluding food, energy, and trade increased by 27%, showing progress from the previous 29%, reaching levels of January 2024 [4][5] Labor Market - Initial jobless claims reached 248000, approaching 250000, and are unchanged from the slightly revised previous week's 248000, reaching levels last seen in October of the previous year [6] - Continuing claims are nearing 1956 million, marking the third consecutive week above 19 million, the highest since November 2021 [6] Market Reaction - Interest rates remained relatively stable despite some weakness observed in equities [6] - Pre-opening equities were in the red, showing a slight improvement following the data release [7]