Stock Market Update

The S&P 500 futures currently trade five points above fair value.

August nonfarm payrolls increased by 22,000 (Briefing.com consensus: 78,000) from the prior revised increase of 79,000 (from 73,000) in July.

August private sector payrolls increased by 38,000 (Briefing.com consensus: 90,000) from the prior revised increase of 77,000 (from 83,000) in June.

The August unemployment rate was 4.2% (Briefing.com consensus: 4.2%) versus 4.2% in July.

The average workweek in August was 34.2 hours (Briefing.com consensus: 34.3) versus a revised 34.3 hours (from 34.2 hours) in July.

August average hourly earnings were up 0.3% (Briefing.com consensus: 0.3%) versus 0.3% in July.