Economic indicators

April wholesale inventories rose by 0.1%, revised up slightly from the flat reading reported in the advance estimate, while wholesale sales jumped up 0.8% in the month.

Consumer credit increased by $9.3 billion in April to $3.883 trillion, the Federal Reserve reported Thursday.

Initial claims U.S. state unemployment benefits fell by 1,000 to 222,000 in the June 2 week, the lowest level in a month.

First quarter nonfarm productivity was revised down to a 0.4% gain, while unit labor cost growth was revised up to a 2.9% pace, the strongest in a year.

The U.S. international trade gap narrowed to $46.2 billion in April from $47.2 billion, a much smaller gap than the $48.8 billion deficit expected.

The U.S. services sector expanded at a faster pace in May as the non-manufacturing index rose to 58.6 from 56.8 in April.

The value of new factory orders fell 0.8% in April, below the 0.5% decline expected by analysts.

The Conference Board's Employment Trends Index (ETI) slid to 107.69 in May from a downwardly revised 108.00 in April.

The New York economy continues to expand, even as revenues slumped in May.

Construction spending surged by 1.8% in April, well above the 0.8% gain expected, mainly due to a 4.5% jump in private residential construction.

According to the ISM's monthly report on business, the ISM index increased to 58.7 in May from 57.3 in April.

U.S. hiring rose more than forecast in May, wages picked up and the unemployment rate matched the lowest in almost five decades, indicating the strong labor market will keep powering economic growth.

Pending home sales declined 1.3% to an index reading of 106.4 in April.

The MNI Chicago Business Barometer rose 5.1 points to 62.7in May, up from 57.6 in April, hitting the highest level since January.

The seasonally adjusted Milwaukee Report on Business increased to 67.90 in May from 58.26 in April.

Initial claims for U.S. state unemployment benefits fell by 13,000 to 221,000 in the May 26 week, slightly below the 224,000 level expected.

Nominal personal consumption expenditures rose 0.6% in April, a stronger gain that expected, while core PCE prices rose 0.2% to keep the year/year rate at 1.8%

The April Midwest Economy Index climbed to 0.53 from an unrevised 0.52 in March, the Federal Reserve Bank of Chicago said Thursday.

The U.S. economy expanded moderately through much of April and May, with little indication of overheating, a Federal Reserve survey showed.

Texas service sector activity “accelerated sharply in May,” according to business executives responding to the Federal Reserve Bank of Dallas' Texas Service Sector Outlook Survey.