Stock Market Update

PPI increased 0.4% month-over-month in January (Briefing.com consensus 0.2%) while core PPI jumped 0.4% month-over-month (Briefing.com consensus 0.3%). 

Weekly jobless claims totaled 213,000 (Briefing.com consensus 217,000) following a revised count of 220,000 last week (from 219,000). Continuing claims totaled 1.85 million following a total of 1.886 million last week.

The initial reaction in the futures market has been muted.

The S&P 500 futures are down eight points and are trading 0.1% below fair value, the Nasdaq 100 futures are down ten points and are trading 0.1% below fair value, and the Dow Jones Industrial Average futures are down 18 points and are trading 0.1% below fair value.