Stock Market Update

The S&P 500 futures currently trade three points below fair value. 

Just released, total retail sales were flat month-over-month in December (Briefing.com consensus: 0.4%) following a 0.6% increase in November.

Excluding autos, retail sales were also flat (Briefing.com consensus: 0.4%) following a downwardly revised 0.4% increase (from 0.5%) in November.

Compensation costs for civilian workers increased 0.7% (Briefing.com consensus: 0.8%), seasonally adjusted, for the 3-month period ending in December 2025, from a 0.8% increase in the third quarter. 

Import prices increased 0.1% in December. Excluding oil, import prices increased 0.3%.

Export prices increased 0.3% in December. Excluding agriculture, export prices increased 0.3%.