US initial jobless claims dropped -355k to 1542k in the week ending June 6. Four-week moving average of initial claims dropped -286k to 2002k. Continuing claims dropped -339k to 20929k in the week ending May 30. Four-week moving average of continuing claims dropped -405k to 21988k.
US PPI came in at 0.4% mom, -08% yoy in May, above expectation of 0.1% mom, -1.1% yoy. PPI core was at -0.1% mom, 0.3% yoy, versus expectation of 0.1% mom, 0.9% yoy. 
