Today's economic calendar will be active, led by consumer prices and unemployment claims.
The consumer price index will be released at 8:30 a.m. ET, with a consensus expectation of -0.2 percent for May, compared with no change in the previous month. Estimates range from -0.3 percent to 0.1 percent. Excluding food and energy, the CPI is expected to remain unchanged from April at 0.2 percent.
Weekly jobless claims will also come out at 8:30 a.m. ET. The consensus forecast calls for 375,000 new filings, down from last week's 377,000. The range of estimates is from 370,000 to 385,000. Continuing claims are expected to decline to 3.275 million from 3.293 million.
The last report for 8:30 a.m. ET is the U.S. current-account deficit for the first quarter. Analysts are expecting the deficit to increase to -$132.3 billion from -$124.1 billion, within a range of -$139.3 billion to -$130 billion.
The weekly Bloomberg Consumer Comfort Index will follow at 9:45 a.m. ET. The EIA natural-gas inventories are scheduled for 11 a.m. ET.
A 30-year Treasury bond auction is scheduled for 1 p.m. ET. The Federal Reserve's balance sheet and money-supply figures will be released at 4:30 p.m. ET.
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