Stock Market Update

The S&P 500 futures are up 25 points and are trading 0.5% above fair value, the Nasdaq 100 futures are up 115 points and are trading 0.5% above fair value, and the Dow Jones Industrial Average futures are up 104 points and are trading 0.4% above fair value.

Nonfarm payrolls increased by 254,000 in September (Briefing.com consensus 135,000) following a revised increase of 159,000 in August (from 142,000). Nonfarm private payrolls rose by 223,000 in September (Briefing.com consensus 125,000) following a revised increase of 114,000 in August (from 118,000).

The unemployment rate declined to 4.1% in September (Briefing.com consensus 4.2%) from 4.2% in August.

Average hourly earnings increased by 0.4% in September (Briefing.com consensus 0.3%) following a 0.5% increase in August (revised from 0.4%). The average workweek declined to 34.2 hours in September (Briefing.com consensus 34.3) from 34.3.