Stock Market Update

The S&P 500 futures are up 12 points and are trading 0.2% above fair value, the Nasdaq 100 futures are up 75 points and are trading 0.3% above fair value, and the Dow Jones Industrial Average futures are up 50 points and are trading 0.1% above fair value.

The September Trade Balance Report at 8:30 a.m. ET showed a widening in the trade deficit to $84.4 billion (Brieifng.com consensus -$74.0 billion) from a revised $70.8 billion (from -$70.4 billion) in August. That widening was the result of exports being $3.2 billion less than August exports and imports being $10.3 billion more than August imports.

The key takeaway from the report is that the imbalance between exports and imports is indicative of a U.S. economy that is running stronger than its global counterparts.

The 10-yr yield is up two basis points to 4.33% and the 2-yr yield is up one basis point from yesterday at 4.19%.