U.S. stock index futures traded lower as investors awaited a round of economic reports.
The Mortgage Bankers Association’s purchase application index rose 7.3% last week. The refinance index rose 21.1% as mortgage rates remained near 4.8%. In a separate report, the Commerce Department showed housing starts falling back 10% after a 3.9% boost in April. Meanwhile, the producer prices retreated in May as the cost of energy fell. The Labor Department said its producer price index, which measures costs at the wholesale level, fell 0.3% last month. At the core level, excluding food and energy, the PPI gained 0.2%, matching April’s reading. Still to come is a report on capacity utilization and industrial production at 9:15 am ET.
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