Initial jobless claims dropped -4k to 28k in the week ended June 9, slightly better than expectation of 223k. Four-week moving average of initial claims dropped -1.25k to 224.25k. Continuing claims dropped -49k to 1.697m in the week ended June 2, lowest since December 1, 1973. Four-week moving average of continuing claims dropped -3.75k to 1.726m, lowest since December 8, 1973.

Headline retail sales rose 0.8% in May versus expectation of 0.4% mom. Ex-auto sales rose 0.9% versus expectation of 0.3%. Import price rose 0.6% mom in May versus expectation of 0.5% mom.

Also released, new housing price index rose 0.0% mom in April versus expectation of 0.2% mom.

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