The US inflation rate rose by 0.6% in May — the highest monthly increase since last November.

The core inflation rate, however, which excludes volatile food and energy prices, only rose 0.2%, easing fears that rising commodity prices would feed into more widespread inflation

But can the government’s inflation data be trusted? John Brown in The Daily Reckoning doesn’t think so…

US markets marked the strongest second quarter start since 1938, reports Money Morning.

The rally in financial stocks led the three major indexes to post gains of more than 3%.

At the New York close, the blue-chip Dow Jones Industrial Average Index had posted a gain of 391.96 points (3.20%), to close at 12,654.85.