Stocks are flat to slightly lower this morning after China’s May producer price index rose 9% over twelve months, higher-than-expected.

Markets are cautious ahead of US inflation data due tomorrow which investors will be monitoring for clues regarding the Fed’s next move. The US central bank has been treating inflationary pressures as transitory so any data indicating otherwise will be examined closely.

On Tuesday, the World bank lifted its global growth forecast to 5.6% for 2021, from a previous forecast in January of 4%.

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