US stocks climb to record as investors see rise in inflation as transitory

THE DAY AHEAD

• G-7 summit begins.
• China releases May’s vehicle sales.


OVERVIEW
• S&P 500 rises to record, Treasuries gain after CPI.
• European Airlines dragging feet on carbon curbs, group says.
• China’s PBOC gets local government help in avoiding cash crunch.
• Oil gains as rising inflation boosts commodity appeal.
• Gold erases losses after US inflation data, ECB decision.