April US Import Prices, Export Prices Both Rise More Than Expected

US import prices rose by 1.9% in April, above the 1% increase expected in a survey compiled by Bloomberg as of 7:35 am ET and faster than a 0.9% gain in March.

Excluding a 19.0% gain in petroleum prices, import prices increased by 0.7% in April after a flat reading in March. A 0.5% increase was expected for April.

Excluding a 16.3% gain in all fuels, import prices were up 0.8% in April.

Export prices jumped by 3.3% in April, well above expectations for a 1.2% gain and following a 1.5% gain in March. Export prices were up 3.4% excluding a 1.6% increase in agricultural commodity prices.

April US Retail Sales Rise as Expected, Gasoline Sales Continue to Climb

US retail sales rose by 0.5% in April, as expected in a survey compiled by Bloomberg as of 7:35 am ET and following the previous month's 1.6% gain.Excluding a 0.4% decrease in motor vehicle sales, retail sales were up 0.7%, also as expected. That followed a 1.9% gain in March.Removing both motor vehicles and a 2.8% gain in gasoline station sales, retail sales were up 0.5% in April after a 0.7% increase in March. Sales at food services and drinking places rose by 0.6% after a 0.1% gain in the previous month.There were also notable sales gains for electronics, groceries, sporting goods, and at nonstore retailers that were offset by declines in sales for furniture and clothing.The monthly retail sales report from the US Commerce Department measures spending on retail products and food, the largest portion of economic growth. The report covers spending on goods, with a services report released later each month.Investors watch the control group that excludes food services, autos, gasoline, and building materials because it feeds directly into the GDP report measuring economic growth.If the data shows a strong US economy, that's generally bullish for stocks and bearish for bonds.

US Initial Jobless Claims Rise in Week Ended May 9

US initial jobless claims rose to a level of 211,000 in the week ended May 9 from a downwardly revised 199,000 level in the previous week, compared with expectations for a smaller increase to 205,000 in survey of analysts compiled by Bloomberg.The four-week moving average rose by 750 to 203,750 after decreasing by 4,750 to a level of 203,000 in the previous week.Insured jobless claims increased by 24,000 to 1,782,000 in the week ended May 2.The weekly initial jobless claims data released by the US Labor Department measures filings for unemployment insurance benefits. Initial filings are reported through the previous Saturday, while those already on benefits are measured with a one-week lag.A decrease in claims suggests a stronger labor market, a positive for the US economy and stocks, but a negative for bonds as it suggests wage growth that could lead to inflation.

April US Import Prices, Export Prices Both Rise More Than Expected

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April US Retail Sales Rise as Expected, Gasoline Sales Continue to Climb

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April US Retail Sales Rise as Expected, Gasoline Sales Continue to Climb
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