Stock Market Update

The S&P 500 futures are up four points and are trading 0.1% above fair value, the Nasdaq 100 futures are down one point and are trading in line with fair value, and the Dow Jones Industrial Average futures are up 20 points and are trading 0.1% above fair value.

The ECB Governing Council decided to lower the deposit facility rate by 25 basis points.

Weekly initial jobless claims totaled 230,000 (Briefing.com consensus 229,000) and last week's total was revised to 228,000 (from 227,000). Continuing claims came in at 1.85 million and last week's total was revised to 1.845 million (from 1.838 million).

Total PPI increased 0.2% in August (Briefing.com consensus 0.2%) following a flat reading in July (revised from 0.1%). Core-PPI, which excludes food and energy, increased 0.3% in August (Briefing.com consensus 0.2%) following a revised 0.2% decrease in July (from 0.0%).