U.S. stocks rose today, with the S&P 500 making its biggest gain since January. The leap was caused by economic data in the media and grocery industries doing better than had been predicted. Retail sales also climbed, rising to 0.6 percent last month, which is the biggest increase that’s been seen in three months.
Gold: -0.52% to $1,384.80 per ounce Oil: +0.80% to $96.65 per barrel U.S. 10-Year: -0.079 to 2.149%
After Last Week’s Spike, Jobless Claims Steadily March Downward: Following last week’s Employment Situation Report, the labor market was given another sign that job gains will continue; the United States Department of Labor said that the number of Americans applying for initial unemployment benefits dropped 12,000 to a seasonally adjusted 334,000 in the week ending June 8. As applications for unemployment benefits act as a proxy for layoffs, this drop shows that employers are refraining from firing workers even as economic growth appears to be cooling this quarter… (Read more.)
Is Business Optimism Flagging Thanks To Weaker Sales?: Business have amassed inventories slowly this year, and recent industry data has suggested that this key measure of economic growth slowed further in April. Inventories increased throughout the month as sales declined for the second consecutive month, signaling that companies may limit orders to manufacturers to avoid an unwanted backlog of merchandise… (Read more.)