08:33 am : S&P futures vs fair value: -2.0. Nasdaq futures vs fair value: +3.2. Futures trade gets a boost following economic data, and suggests the indices may now open mixed. Total PPI rose a less than expected 0.2% (consensus 0.4%) in May, while the more closely watched core rate (ex-food and energy) rose 0.3% (consensus 0.2%), suggesting inflation at the wholesale level is not out of control. May retail sales rose 0.1% and sales, ex-autos, rose 0.5%, both relatively in line with forecasts, which underscores that consumer spending remains solid but is not growing too fast to raise inflation concerns. Bonds, though, have held relatively steady as the 10-yr note is still up 6 ticks to yield 4.95%.
DOW Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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