Economic indicators

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.

About 4,699,500 online job postings appeared on leading internet job boards in May, a decrease of 51,000 from April, the Conference Board reported Wednesday.

First quarter GDP growth was revised down slightly to a 2.2% annual rate from the 2.3% pace in the advance estimate.

Private-sector employment increased by 178,000 in May, on a seasonally adjusted basis, ADP estimated Wednesday.

Texas factory activity, as measured by the production index, “rose markedly in May,” reaching a 12-year high.

The consumer confidence index increased to 128.0 in May from a revised 125.6 last month, The Conference Board reported Tuesday.

Home prices rose 6.5% on an annual basis in March, not seasonally adjusted, according to the S&P CoreLogic Case-Shiller U.S. National Home Price Index, released Tuesday.

The University of Michigan's final May consumer sentiment index reading was 98.0, compared to the preliminary May 98.8 and the final April 98.8, according to market sources.

The value of U.S. durable goods new orders fell 1.7% in April, a larger drop than the 1.2% decrease expected.

Respondents to the Federal Reserve Bank of Kansas City's monthly manufacturing survey reported stronger activity and optimism, while prices were little changed at high levels.

Home resales fell by 2.5% in April to an annual rate of 5.46 million, below expectations for a small decline to a 5.58 million pace.