Week Ahead: Economists Look To FOMC Minutes, CPI, Markit 'Flash' PMI

Stocks fell at the open Friday as investors pulled back following Thursday’s rally that pushed all three major averages by more than 1 percent.Data Friday showed wholesale prices in the U.S. climbed in May for the first time in three months. The producer-price index rose 0.5 percent after falling 0.7 percent in April, according to a Labor Department report.Consumer sentiment fell to 82.7 in June, below a near six-year high of 84.5 in May, according to the Thomson Reuters/University of Michigan's preliminary reading. Economists polled by Reuters had forecast a pickup in consumer sentiment to 84.5 in June.On the economic calendar for next week, the Empire State and Home Builder’s indexes are released Monday. On Tuesday, CPI, Core CPI and housing starts are issued, while on Wednesday the FOMC will release its latest meeting minutes. Thursday Markit “Flash” PMI, existing home sales and the Philly Fed index, along with weekly jobless claims are reported.