On Tap Today: Latest Producer Price Index and Initial Jobless Claims - TheStreet

The market will have a handful of economic and earnings reports to help give it some direction today.

The latest reading of the

Producer Price Index -- measuring wholesale prices --

initial jobless claims and

business inventories will be released.

Investors have been watching jobless claims closely to track the health of the labor market. Even though the unemployment rate dipped last month, it has generally been moving higher.

Adobe Systems

(ADBE) - Get Report

and

Heinz

(HNZ)

will report earnings today. Analysts polled by earnings tracker

Thomson Financial/First Call

expect the software company to earn 29 cents a share, excluding goodwill. It made 26 cents a share in the year-ago period.

Food products company Heinz is expected to make 53 cents a share, below last year's 63 cents.

Economic Data

(

Forecasts are from

Reuters

. Times are Eastern. For a longer-term economic calendar and more, see

TSC's

Economic Databank.

)

  • 8:30 a.m.: Producer Price Index for May. Source: Labor Department. Forecast: +0.3%. Previous: +0.3%. Ex-Food and Energy. Forecast: +0.1%. Previous: +0.2%.
  • 8:30 a.m.: Initial Jobless Claims for the week ended June 9. Source: Labor Department. Forecast: n.a. Previous: 432,000. Four-Week Average. Forecast: n.a. Previous: 413,500.
  • 8:30 a.m.: Business Inventories for April. Source: Census Bureau. Forecast: n.a. Previous: -0.3%.