Stock Market Update

The S&P 500 futures are up ten points and are trading 0.2% above fair value, the Nasdaq 100 futures are up 60 points and are trading 0.3% above fair value, and the Dow Jones Industrial Average futures are up five points and are trading fractionally above fair value.

Weekly initial jobless claims totaled 2221,000 (Briefing.com consensus 229,000) and last week's total was 218,000 (revised from 216,000). Continuing claims came in at 1.892 million and last week's total was revised to 1.8853 million (from 1.862 million).

Q3 productivity increased 2.2% in the preliminary reading (Briefing.com consensus 1.9%) following a 2.1% increase in Q2 (revised from 2.5%). Q3 unit labor costs increased 1.9% in the preliminary reading (Briefing.com consensus 0.5%) following a 2.4% increase in Q2 (revised from 0.4%).