Stock Market Update

The S&P 500 futures are down 16 points and are trading 0.5% below fair value, the Nasdaq 100 futures are down 118 points and are trading 0.9% below fair value, and the Dow Jones Industrial Average futures are down 102 points and are trading 0.3% below fair value.

Nonfarm payrolls increased by 142,000 in August (Briefing.com consensus 165,000) following a revised increase of 89,000 in July (from 114,000). Nonfarm private payrolls rose by 118,000 in August (Briefing.com consensus 142,000) following a revised increase of 74,000 in July (from 97,000).

The unemployment rate declined to 4.2% in August (Briefing.com consensus 4.2%) from 4.3% in July.

Average hourly earnings increased by 0.4% in August (Briefing.com consensus 0.3%) following a 0.2% increase in July. The average workweek rose to 34.3 hours in August (Briefing.com consensus 34.3) from 34.2.