Stock Market Update

The S&P 500 futures are up 22 points and are trading 0.4% above fair value, the Nasdaq 100 futures are down 75 points and are trading 0.4% above fair value, and the Dow Jones Industrial Average futures are up 51 points and are trading 0.1% above fair value.

The trade deficit narrowed to $70.4 billion in August (Briefing.com consensus -$71.3 billion) from a downwardly revised $78.9 billion (from -$78.8 billion) in July. The improvement was the result of exports being $5.3 billion more than July exports and imports being $3.2 billion less than July imports.

The key takeaway from the report is that the net exports component for August will be a positive input for Q3 GDP forecasts.