Stocks and Treasury yields rose in overnight trading as inflation continues to weigh on investors.
The Goods Trade Balance or trade deficit decreased slightly in May to -$104.31 billion.
Retail inventories rose +0.8% and preliminary wholesale inventories rose +2.0% in May.
Home prices rose +1.6% in April and +18.8% from this time last year.
The Conference Board’s Consumer Confidence Survey crashed to 98.7 in June from 103.2 last month.
Today’s $40 billion 7-year Treasury Note auction was met with weak demand as foreign bidders took 61.9% of the auction and domestic bidders took 20.4% of the auction, leaving securities dealers with 17.7% of the auction.
Stocks closed sharply lower on the day and Treasury yields closed lower on the day.