Stock Market Update

GDP was up 2.4% in the third estimate for Q4 (Briefing.com consensus 2.3%). The GDP Price Deflator was up 2.3% in the third estimate for Q4 (Briefing.com consensus 2.4%).

Weekly initial claims totaled 224,000 (Briefing.com consensus 225,000) and continuing claims totaled 1.856 million.

The initial response in equities was muted. The S&P 500 futures are down eight points and are trading 0.1% below fair value, the Nasdaq 100 futures are down 52 point and are trading 0.2% below fair value, and the Dow Jones Industrial Average futures are up 54 points and are trading 0.1% above fair value.