Stock Market Update

The S&P 500 futures are down 25 and are trading 0.5% below fair value, the Nasdaq 100 futures are down 80 points and are trading 0.5% below fair value, and the Dow Jones Industrial Average futures are down 60 points and are trading 0.2% below fair value.

Housing starts totaled 1.238 million in July (Briefing.com consensus 1.350 million) following a total of 1.329 million in June (revised from 1.353 million). Building permits totaled 1.396 million in July (Briefing.com consensus 1.44 million) following a total of 1.454 million in June (revised from 1.446 million).