The Producer Price Index for final demand was unchanged in May, the Bureau of Labor Statistics reported. Final demand prices rose 0.5% in April and edged down 0.1% in March. In May, a 0.3% increase in the index for final demand services offset a 0.5% decline in prices for final demand goods.

Tuesday, the Dow gained 92.80 points (0.44%) to finish at 21,328.47, the NASDAQ closed 44.90 points (0.73%) higher at 6,220.37, and the S&P 500 increased 10.96 points (0.45%) to 2,440.35. The Russell 2000 was up 6.77 points (0.48%) at 1,425.98, and the Wilshire 5000 climbed 130.15 points (0.52%) to 25,401.15.

The price of the 10-year Treasury note was up 1/32, decreasing its yield to 2.210%. The price of the 30-year Treasury bond increased 2/32, bringing its yield down to 2.865%.

ON THIS DATE: In 1775, the Continental Army was founded by the Second Continental Congress for purposes of common defense. This event is considered to be the birth of the United States Army. In 1777, the Continental Congress in Philadelphia adopted the “Stars and Stripes” as the national flag of the United States. The Flag Resolution stated “Resolved: that the flag of the United States be made of thirteen stripes, alternate red and white; that the union be thirteen stars, white in a blue field, representing a new Constellation.” In 1834, Isaac Fischer Jr. patented sandpaper. In 1846, a group of U.S. settlers in Sonoma proclaimed the Republic of California. In 1900, Hawaii became a U.S. territory. In 1922, Warren G. Harding became the first U.S. president to be heard on radio. The event was the dedication of the Francis Scott Key memorial at Fort McHenry. In 1943, the U.S. Supreme Court ruled that schoolchildren could not be made to salute the U.S. flag if doing so conflicted with their religious beliefs. In 1951, “Univac I” was unveiled. It was a computer designed for the U.S. Census Bureau and billed as the world’s first commercial computer. In 1952, the Nautilus was dedicated. It was the first nuclear powered submarine. In 1954, U.S. President Dwight D. Eisenhower signed an order adding the words “under God” to the Pledge of Allegiance. In 1954, Americans took part in the first nation-wide civil defense test against atomic attack. In 1989, former U.S. President Ronald Reagan received an honorary knighthood from Britain’s Queen Elizabeth II.

WEDNESDAY WISDOM: “I want to congratulate all the men out there who are working diligently to be good fathers, whether they are stepfathers, or biological fathers or just spiritual fathers.”—T. D. Jakes, pastor