[BRIEFING.COM] S&P futures vs fair value: -35.50. Nasdaq futures vs fair value: -103.00.
The S&P 500 futures trade 36 points, or 1.3%, below fair value.
Just in, the October trade balance report showed a deficit of $55.5 billion (Briefing.com consensus -$54.7 billion). The September deficit was revised to $54.6 billion from $54.0 billion.
Separately, third quarter unit labor costs were revised to +0.9% (Briefing.com consensus +1.2%) from +1.2% in the preliminary reading. Meanwhile, third quarter productivity was revised to +2.3% (Briefing.com consensus +2.2%) from +2.2%.
The latest weekly initial jobless claims count totaled 231,000, while the Briefing.com consensus expected a reading of 225,000. Today's tally was below the revised prior week count of 235,000 (from 234,000). As for continuing claims, they decreased to 1.631 million from a revised count of 1.705 million (from 1.710 million).
Earlier, the ADP National Employment Report showed an increase of 179,000 in November (Briefing.com consensus 192,000), and the October reading was revised to 225,000 (from 227,000). The ADP reading is seen as a prelude to the BLS's nonfarm payrolls figure (Briefing.com consensus 189,000), which will be released on Friday.