Daily Rundown

June 10 ,2026

Chart of the Day

Number of the Day

35.0 - Share of existing home purchases made by first-time buyers in May, up from 33.0 percent in the prior month and the highest percentage since April 2020

Quote of the Day

"Within our full-year outlook, we expect mid-single-digit deflation. And again, that's largely driven by green coffee. Excluding green coffee and tariffs, we anticipate cost inflation of low single-digits across the balance of our portfolio..." - JM Smucker CFO Tucker Marshall

Tuesday's Highlights

Existing home sales (May) rose by 3.2 percent to a five-month high annual pace of 4.2 million. The median price was up by 1.3 percent year-over-year.

The trade deficit (April) narrowed to $55.9 billion from a prior $56.6 billion. Exports moved higher by 2.6 percent while imports rose 2.0 percent.

The small business optimism index (May) fell to a 19-month low 95.3 from a prior 95.9. Hiring intentions and job openings were both lower.

Quick Commentary

The small business numbers suggest that there is still some underlying deterioration in the labor market even as headline job growth has solidified in recent months. More positively, the increased participation of first-time buyers is a sign that the housing market is slowly thawing thanks to rising inventories and stagnating prices. Note that in real terms, the median existing home price is now moving higher at almost the exactly the same pace on an annualized basis in the 2020s as it did in the prior decade.

Today's Highlights

CPI

Mortgage applications

Daily Trivia

What are the only two major professional sports franchises in the U.S. that are publicly traded via an S&P 1500 stock?

(Tuesday's Question: What central bank's official emblem features a tiger standing in front of a palm tree? Answer: Reserve Bank of India)