Stock Market Update

The S&P 500 futures are down 48 points and are trading 0.9% below fair value, the Nasdaq 100 futures are down 260 points and are trading 1.3% below fair value, and the Dow Jones Industrial Average futures are down 175 points and are trading 0.4% below fair value.

Retail inventories rose 0.7% in the advance report for June following a revised 0.6% increase in May (from 0.7%). Wholesale inventories increased 0.2% in the advance report for June following a 0.6% increase in May.

International Trade in Goods increased to -$96.8 billion in the advance report for June from a revised -$99.4 billion in May (from -$100.6 billion).