US initial jobless claims dropped -2k to 228k in the week ending May 4, above expectation of 220k. Four-week moving average of initial claims rose 7.75k to 220.25k.
Continuing claims rose 13k to 1.684M in the week ending April 27. Four-week moving average of continuing claims dropped -8k to 1.666M.
PPI rose 0.2% mom, 2.2% yoy in April, versus expectation of 0.2% mom, 2.3% yoy. PPI core rose 0.1% mom, 2.4% yoy, versus expectation of 0.2% mom, 2.5% yoy.
Trade deficit rose 1.5% to USD 50.0B in March, better than expectation of USD -51.4B. Exports rose 1.0% to USD 212.0B. Imports rose 1.1% to USD 262.0B.
