Inflation dodged the tariff bullet again. The May Consumer Price Index rose +0.1% M/, less than the +0.2% consensus and the 0.2% increase in April.

The Consumer Price Index rose 2.4 percent in May, from a year earlier, a reading that reflects only the initial impact of President Trump’s tariffs.

Wall Street's main indexes rose on Wednesday, as a tame inflation report calmed investor concerns around tariff-driven price pressures while markets awaited more details on Sino-U.S. trade talks. Data showed consumer prices increased only marginally in May,