The consumer price index rose 8.6% in May from a year ago, the highest increase since December 1981. Core inflation excluding food and energy rose 6%. Both were higher than expected. Surging food, gas and energy prices all contributed to the gain, with fuel oil up 106% over the past year.  Shelter costs, which comprise about one-third of the CPI, rose at the fastest 12-month pace in 31 years. The rise in inflation meant workers lost more ground in May, with real wages declining 0.6% from April and 3% on a 12-month basis.

DocuSign went deep into the red in after-hours trading on Thursday as the stock cratered as much as 26% following weaker-than-expected Q1 results. EPS fell well short of estimates though revenue topped projections. Before adjustments, the electronic-signature tech company also reported a net loss that widened for the quarter. As interest rates normalize, there has been a shift away from a focus on growth to profitability. DocuSign put up some strong growth early on in the pandemic, given the increase in online transactions, but business has slowed in recent quarters.  

The national average price at the pump has surpassed $5.00 per gallon, according to GasBuddy, an industry consultant that surveys prices at more than 150K stations nationwide.