Day trader favorite AMC Entertainment may be on a path to stability, and it has the Reddit crowd to thank for it. The movie theater operator has cashed in on its meme-stock status to raise some $1.25 billion through equity offerings in recent months. That, combined with an improving outlook for the movie industry, warranted a credit upgrade from S&P Global Ratings. Here’s your markets wrap. —David E. Rovella

Bloomberg is tracking the progress of coronavirus vaccines while mapping the pandemic worldwide. 

Here are today’s top stories  

Prices paid by U.S. consumers rose in May by more than forecast, extending a months-long buildup in inflation that risks becoming more established as the economy strengthens. The consumer price index had its second-largest advance in more than a decade. 

International banking regulators’ decision to classify Bitcoin as the riskiest of assets may bring crypto closer to the mainstream, but the ruling also makes it extremely costly for banks to hold digital tokens on their balance sheets. And despite a Bitcoin bounce over the past few days, JPMorgan warned that there remains reason for caution.

Semiconductor designer SiFive has found itself the subject of takeover interest from Intel, which offered to acquire the startup for more than $2 billion.

Prime Minister Boris Johnson is poised to delay the final stage of pandemic lockdown easing in England. Chile announced a full lockdown in Santiago as the number of available hospital beds sank dangerously low. In India, where the coronavirus is spreading unchecked, victims and their families now face bankruptcy courtesy of crushing medical debt. In Africa, nations there are heading into a third wave of infections as the least-inoculated continent faces a shortage of vaccines. On Wednesday, at least 10,400 people died from Covid-19. Here’s the latest on the pandemic.

Vertex Pharmaceuticals ended a closely watched effort to develop a therapy for liver disease, a setback in the biotech firm’s quest to broaden its offerings beyond cystic fibrosis drugs. Its shares plunged.

Vivendi shareholder Artisan Partners opposes the company’s plan to sell chunks of its prized asset, Universal Music Group, including a proposed deal with a blank-check firm backed by billionaire Bill Ackman. The move comes two weeks before shareholders vote on a plan to spin off 60% of the world’s biggest music company.

For many Americans, criminal records stand as stubborn barriers to employment and housing. Now several states, including New York, are advancing efforts to automatically seal and expunge those records, Bloomberg CityLab reports. 

What you’ll need to know tomorrow 

• Harvard professor quits FDA panel over Alzheimer’s drug approval.
• Yes, real estate prices are climbing. No, there isn’t a bubble.
• Indeed, the rush to buy second homes is slowing as offices reopen.
• The IMF is worried about El Salvador’s Bitcoin affinity.
• Apple brings in a big gun for its electric car project.
• A leftist revival may be spreading across South America.
• CityLab: In New Orleans, the “Shotgun” house goes way back.

What It’s Like to Visit Paris Right Now

When Parisians woke up May 19, they found a city reborn. The curfew had been pushed back to 9 p.m. The streets surrounding Opera Garnier were bustling, and in the Pigalle district the excitement had bistro owners serving their first pints before 10 a.m. Bloomberg Pursuits has the inside scoop on what spring and summer in the City of Light looks like this year.

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Corporate Mandate for Change—Bloomberg Equality Briefing: As the reckoning on race in America continues to reverberate, the reach and influence of business has made it a focal point for change. On June 17, we’ll convene leaders across companies, finance and technology to discuss their blueprint for a more equitable workforce. Sponsored by Cisco. Register here.