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 112 points and are trading 0.4% above fair value, and the Dow Jones Industrial Average futures are down 62 points and are trading 0.2% below fair value.

The ECB left its key rates unchanged, as expected.

Weekly initial jobless claims totaled 243,000 (Briefing.com consensus 225,000) following a revised count of 223,000 last week (from 222,000). Continuing claims came in at 1.867 million following last week's revised count of 1.847 million (from 1.852 million).

The Philadelphia Fed Index jumped to 13.9 in July (Briefing.com consensus 2.9) from 1.3 in June.