1) Jobless claims edge higher as per the report from labor department The number of Americans filing new claims for unemployment aid unexpectedly edged higher last week, stoking fears of a stalled economic recovery even as a separate report showed record U.S. exports in April.

Initial claims for state jobless benefits increased 1,000 to 427,000, the Labor Department said. However, economists polled by Reuters had forecast claims dropping to 415,000 from a previously reported count of 422,000.

2) Trade deficit narrowed in April according to the Commerce Department, as U.S. exports rose to a new record and imports from Japan tumbled more than 25 percent after its earthquake, tsunami and nuclear disaster.

The monthly trade gap totaled $43.7 billion, down 6.7 percent from a revised estimate of $46.8 billion in March which was originally reported as $48.2 billion.

The $3 billion drop in imports from Japan from March to April was the largest on record. U.S. auto and auto parts imports from Japan and other suppliers fell $2.8 billion, partly reflecting supply chain disruptions in the aftermath of the triple disaster.

3) Wholesale inventories rose less than forecast in April, but seemed enough to boost investor confidence and stocks.

Inventories rose 0.8 percent to $447.2 billion in the first month of the second quarter, below economists forecasts of 1.0 percent, according to the Commerce Department. Automotive inventories, one of the biggest categories, fell 1.3 percent. Wholesale inventories have increased 16.6 percent since hitting a low in September 2009.