Stock Market Update

The S&P 500 futures are up 95 points and are trading 1.7 % above fair value, the Nasdaq 100 futures are up 430 points and are trading 2.2% above fair value, and the Dow Jones Industrial Average futures are up 502 points and are trading 1.2% above fair value.

Weekly initial jobless claims totaled 219,000 (Briefing.com consensus 232,000) and last week's total was revised to 231,000 (from 230,000). Continuing claims came in at 1.829 million and last week's total was revised to 1.843 million (from 1.850 million).

The current account balance was -$266.8 billion in Q2 following a prior revised -$241.0 billion (from -$237.6 billion)..

The Philadelphia Fed Index rose to 1.7 in September (Briefing.com consensus 3.0) from -7.0 in August.