Stock Market Update

The S&P 500 futures trade eight above fair value. 

Total retail sales increased 0.5% month-over-month in July (Briefing.com consensus: 0.5%) following an upwardly revised 0.9% increase (from 0.6%) in June.

Excluding autos, retail sales rose 0.3% month-over-month (Briefing.com consensus: 0.3%) following a 0.8% increase (from 0.5%) in June.

The Empire State Manufacturing survey hit 11.9 in August (Briefing.com consensus 0.0), up from 5.5 in July.

July import prices increased 0.4%, the prior level was revised to -0.1% from 0.1%.

July import prices excluding oil increased 0.3%, with the prior level revised to -0.3 from 0.1%.

July export prices increased 0.1% from a 0.5% increase in June.

July export prices excluding agriculture increased 0.1% from a 0.5% increase in June.