We've got a hotter than expected reading as CPI on a month over month basis rises 4/10 of a percent. 3/10 has expected for the core. The year over year rate goes to 2.9% from 2.7% and the core rate goes to 3.1%, stays at 3.1%, we should say.The other number out just now, initial jobless claims, big jump there, 263,000 last week. Don't have the previous revised number, but the UNREVISED number was 237. So a significant movement there in terms of continuing claims, 1,939,000.That's a drop from 1,940,000. But ...

USA: ADP Employment, ISM Services Below Expectations; S&P Services PMI Revised Up; Lowering Payroll Growth Forecast to +110k BOTTOM LINE: According to the ADP report, private sector employment increased by 37k in May, below expectations, and employment in April was revised down. The ISM services index declined by more than consensus expectations in May. In the ISM services press release, respondents highlighted that the tariffs had led to cost increases in their industries. The S&P Global services PMI was r ...