Stock Market Update

The S&P 500 futures are down 50 points and are trading 0.8% below fair value, the Nasdaq 100 futures are down 240 points and are trading 1.1% below fair value, and the Dow Jones Industrial Average futures are down 300 points and are trading 0.7% below fair value.

Nonfarm payrolls increased by 256,000 in December (Briefing.com consensus 227,000) following a revised increase of 212,000 in November (from 227,000). Nonfarm private payrolls increased by 223,000 in December (Briefing.com consensus 140,000) following a revised increase of 182,000 in November (from 194,000).

The unemployment rate declined to 4.1% in December (Briefing.com consensus 4.2%) from 4.2% in November.

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