Stock Market Update

The S&P 500 futures currently trade 25 points below fair value. 

Initial jobless claims for the week ending February 14 decreased by 23,000 to 206,000 (Briefing.com consensus: 225,000) from an upwardly revised 229,000 (from 227,000). 

Continuing jobless claims for the week ending February 7 increased by 17,000 to 1.869 million, from a downwardly revised 1.852 million (from 1.862 million). 

The U.S. trade deficit widened to $70.3 billion in December (Briefing.com consensus: -$55.8 billion) from an upwardly revised $53.0 billion (from -$56.8 billion) in November.

The Philadelphia Fed Index checked in at 16.3 in February (Briefing.com consensus 8.5) from a prior reading of 12.6.