Stock Market Update

S&P 500 futures are currently trading four points above fair value.

Nonfarm payrolls increased by 147,000 in June (Briefing.com consensus 120,000) after a revised 144,000 (from 139,000) in May and nonfarm private payrolls increased by 74,000 (Briefing.com consensus 123,000) after a revised 137,000 (from 140,000).

Average hourly earnings increased 0.2% (Briefing.com consensus 0.3%) from a prior 0.4%

The unemployment rate decreased to 4.1% (Briefing.com consensus 4.2%) from an unrevised 4.2%.

The average workweek hit 34.2 hours (Briefing.com consensus 34.3), down from 34.3 in May.

The trade deficit widened to $71.5 billion (Briefing.com consensus -$70.5 billion) from a revised deficit of $60.3 billion (from -$61.6 billion) in April.

Initial jobless claims for the week ending June 28 decreased by 4,000 to 233,000 (Briefing.com consensus 240,000) from a revised 237,000.

Continuing jobless claims for the week ending June 28 remained at 1.964 million, unchanged from last week's revised 1.964 million (from 1.974 million).