package.json version dependency rule ^ not working properly with npm update command

Question

I'm trying to do a simple test of npm update here is my package.json

{
  "name": "nodetest3",
  "version": "1.0.0",
  "description": "",
  "main": "index.js",
  "scripts": {
    "test": "echo \"Error: no test specified\" && exit 1"
  },
  "keywords": [],
  "author": "",
  "license": "ISC",
  "dependencies": {
    "chalk": "^0.1.0"
  }
}

I can see chalk versions

npm view chalk versions
[
  '0.1.0',        '0.1.1',        '0.2.0',
  '0.2.1',        '0.3.0',        '0.4.0',
  '0.5.0',        '0.5.1',        '1.0.0',
  '1.1.0',        '1.1.1',        '1.1.2',
  '1.1.3',        '2.0.0',        '2.0.1',
  '2.1.0',        '2.2.0',        '2.2.2',
  '2.3.0',        '2.3.1',        '2.3.2',
  '2.4.0',        '2.4.1',        '2.4.2',
  '3.0.0-beta.1', '3.0.0-beta.2', '3.0.0',
  '4.0.0',        '4.1.0'
]

At this point when I run

npm update

I should get a package version of chalk 0.5.1 because I used ^ in the dependencies, at least that is according to the manual(if I use ~ updates to the latest patch if I use ^ updates to the latest minor version), but I get version 0.1.1 which is wrong. What I don't understand is when I change the dependency to "^2.0.0" or "^1.0.0" and run

npm update chalk

or

npm update

chalk is updated to the correct version 2.4.2 or 1.1.3. Is there a way to update all of your packages at the same time with npm update to the correct version set in dependencies or this is just a bug or maybe something related to chalk specifically?