Stock Market Update

Export prices were flat in March and export prices, excluding agriculture, dropped 0.1% in March. Import prices fell 0.1% in March and import prices, excluding oil, rose 0.1% in March.

The Empire State Manufacturing Index rose to -8.1 in April (Briefing.com consensus -14.8) from -20.0.

The initial response in equities was muted. The S&P 500 futures are down 20 points and are trading 0.2% below fair value, the Nasdaq 100 futures are down 62 points and are trading 0.2% below fair value, and the Dow Jones Industrial Average futures are down 153 points and are trading 0.2% below fair value.