Economic Data Better Than Expected, Futures Pop

Equity futures popped this morning after the May Producer Price Index (PPI) and May advance retail sales came in better than investors had feared, sending stocks soaring this morning. The May PPI came in at 0.2%, versus estimates of 0.1%. The PPI rose 7.3% year over year, versus estimates of 6.8%. Excluding food and energy, PPI rose 0.2%, inline with estimates. May advance retail sales, were down, but came in better than expected. May retail sales fell 0.2%, versus economists estimates of a 0.5% drop. Excluding autos, May retail sales rose 0.3%, versus estimates of 0.2%. Equity futures popped after the worries were relieved. At last check, Dow futures are up 91 points, S&P 500 futures are up 12.9 points and NASDAQ futures are up 18.75 points.