Stock Market Update

The S&P 500 futures trade 19 points above fair value, pointing to a solid start. 

Bank stocks are set to show early strength after the Fed's stress test was passed by all 22 institutions. Goldman Sachs (GS 717.93, +27.12, +3.9%) is a clear outperformer in pre-market, on course to open at a fresh record high. 

On the trade front, Canada has rescinded its Digital Services Tax in hopes of resuming trade negotiations with the U.S.

Today's economic data will be limited to the 9:45 ET release of the Chicago PMI for June (Briefing.com consensus 43.4; prior 40.5).

Treasuries have dipped from their opening highs, but the 10-yr note yield is still down one basis point at 4.27%.