Stock Market Update

The S&P 500 futures are up 22 points and are trading 0.1% above fair value, the Nasdaq 100 futures are up 177 points and are trading 0.1% above fair value, and the Dow Jones Industrial Average futures are down five points and are trading 0.1% below fair value.

Weekly initial jobless claims totaled 242,000 (Briefing.com consensus 224,000) following a count of 229,000 last week. Continuing claims came in at 1.820 million following last week's revised count of 1.790 million (from 1.792 million).

Total PPI declined 0.2% in May (Briefing.com consensus 0.1%) following a 0.5% increase in April. Core-PPI, which excludes food and energy, was flat in May (Briefing.com consensus 0.3%) following a 0.5% increase in April.