Stock Market Update

[BRIEFING.COM] The S&P 500 dipped below its prior close with about 30 minutes left in the session.

The 10-yr yield settled three basis points higher at 4.53% and the 2-yr yield settled three basis points higher at 4.05%, creating some selling pressure for equities. 

Looking ahead to Thursday, market participants receive the following economic data:

• 8:30 ET: April PPI (Briefing.com consensus 0.3%; prior -0.4%), Core PPI (Briefing.com consensus 0.3%; prior -0.1%), April Retail Sales (Briefing.com consensus 0.2%; prior 1.4%), Retail Sales ex-auto (Briefing.com consensus 0.5%; prior 0.5%), May Empire State Manufacturing (Briefing.com consensus 1.0; prior -8.1), May Philadelphia Fed (Briefing.com consensus -6.0; prior -26.4), weekly Initial Claims (Briefing.com consensus 226,000; prior 228,000), and Continuing Claims (prior 1.879 mln)
• 9:15 ET: April Industrial Production (Briefing.com consensus 0.3%; prior -0.3%) and Capacity Utilization (Briefing.com consensus 77.9%; prior 77.8%)
• 10:00 ET: May Business Inventories (Briefing.com consensus 0.2%; prior 0.2%) and May NAHB Housing Market Index (Briefing.com consensus 40; prior 40)
• 10:30 ET: Weekly natural gas inventories (prior +104 bcf)