We'll see consumer prices tomorrow.
This is Yahoo Finance
New data on Tuesday showed wholesale prices increased 0.5% month over month in April, above the 0.3% consensus expected. That was according to the latest release of the Producer Price Index, which measures prices producers receive for goods produced. But the release also showed March's monthly price increase was revised lower to a decrease of 0.1% from an initial reading of a 0.2% increase.
The mixed bag helped Wall Street largely shrug off the report. The more crucial reading of inflation is expected on Wednesday with the release of the Consumer Price Index.
For his part, Fed Chair Jerome Powell said Tuesday that PPI was more "mixed" than "hot," reiterating during a question and answer session that he does not expect the central bank's next move to be a rate hike.