Stock Market Update

The S&P 500 futures are up six points and are trading 0.1% above fair value, the Nasdaq 100 futures are up 50 points and are trading 0.2% above fair value, and the Dow Jones Industrial Average futures are up 41 points and are trading 0.2% above fair value.

Nonfarm payrolls increased by 206,000 in June (Briefing.com consensus 170,000) following a revised increase of 218,000 in May (from 272,000). Nonfarm private payrolls rose by 136,000 in June (Briefing.com consensus 160,000) following a revised increase of 193,000 in May (from 229,000).

The unemployment rate rose to 4.1% in June (Briefing.com consensus 4.0%) from 4.0% in May.

Average hourly earnings increased by 0.3% in June (Briefing.com consensus 0.3%) following a 0.4% increase in May. The average workweek was unchanged at 34.3 hours in June (Briefing.com consensus 34.3).