Stocks started the day a bit higher and Treasury yields started the day a bit lower. Stocks were slowly headed lower while Treasury yields were once again pounded higher.
The NFIB Small Business Optimism Index was down slightly in May and just a few points above its pandemic lows as small business owners are not very optimistic.
The Producer Price Index rose +0.8% in May and +10.8% from this time last year. Excluding food and energy, Core PPI rose +0.5% in May and +8.3% from this time last year.
Stocks closed slightly lower on the day except for the tech-heavy Nasdaq-100 which closed slightly higher. Treasury yields closed sharply higher on the day.