Stock Market Update

The S&P 500 futures are down five points and are trading 0.1% above fair value, the Nasdaq 100 futures are down 102 points and are trading 0.5% above fair value, and the Dow Jones Industrial Average futures are up 72 points and are trading 0.2% above fair value.

Initial jobless claims for the week ending January 18 increased by 6,000 to 223,000 (Briefing.com consensus 219,000) while continuing jobless claims for the week ending January 11 jumped by 46,000 to 1.899 million -- the highest level since November 13, 2021.

The key takeaway from the report is the elevated level of continuing jobless claims, which connotes some increasing challenges in finding new employment after being laid off.