S&P 500 futures rose 0.3% following the CPI inflation report after being down slightly before the 8:30 a.m. ET release. The 10-year Treasury yield fell to 4.44% vs. Tuesday's 4.47% after rising to ...

The CPI's latest figures, released by the ONS, state: "Annual growth in employees' average earnings was 5.2% for regular earnings (excluding bonuses) and 5.3% for total earnings (including bonuses).

The headline index was up 2.3% year-over-year, as expected.

Prices rose faster in May than forecasters had anticipated, and consumers unexpectedly lost income and pulled back on spending.