Today’s question is will this Friday the 13th be scary for the markets as Iraq melts down and the S&P 500 has its first three day losing streak in a couple weeks?
Oregon’s largest private sector employer, Intel, raised its sales outlook for the second quarter and full year as they say the PC market is stronger than expected. The company had projected their third year of flat sales before this revision. (Reuters)
US business inventories had their biggest gains in six months in April, up 0.6%. Businesses are rebuilding their inventories for shoppers after production disruptions during the hard winter. At April’s sales pace it would take 1.29 months for businesses to clear the shelves. (Reuters)
Import prices are showing little inflationary pressure rising just 0.1% in May and falling 0.5% in April. Sluggish global demand and slack in the domestic labor supply are keeping inflation muted. (Reuters)
Producer prices fell 0.2% in May and have inflation at the manufacturing level running at an annualized 2.0%. This is a very tame number. (Bloomberg)