Today's economic calendar features producer prices, retail sales, oil supplies, and mortgage applications.
MBA mortgage-purchase applications kick off the day at 7 a.m. ET. There are no projections for this report, which showed a gain of 1.3 percent last week.
The producer price index for May comes out at 8:30 a.m. ET. The consensus forecast calls for a change of -0.6 percent, down from -0.2 percent for April. Estimates range from -1.2 percent to -0.2 percent.
Excluding food and energy, the index is expected to remain unchanged at 0.2 percent, in the middle of an estimated range of 0.1 percent to 0.3 percent.
Retail sales for May will also be released at 8:30 a.m. ET. Analysts are expecting a decline to -0.2 percent for May from 0.1 percent in April, within an estimated range of -0.7 percent to 0.1 percent.
Without autos, retail sales are expected to decline to -0.1 percent from from 0.1 percent, within a range of -0.4 percent to 0.2 percent. Excluding both autos and gasoline, analysts expect an increase to 0.4 percent from 0.1 percent, within a range of 0.2 percent to 0.4 percent.
Business inventories for April will be reported at 10 a.m. ET. The monthly reading is expected to remain unchanged at 0.3 percent, within a range of 0.1 percent to 0.5 percent.
The weekly EIA petroleum inventories will be released at 10:30 a.m. ET. The last report came in at -111,000 barrels.
Ending the day will be a 10-year Treasury note auction at 1 p.m. ET.
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