Stock Market Update

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

Chicago Fed President Austan Goolsbee (not a voting FOMC member) said that the Fed should pause rate cuts as inflation remains well above target, according to CNBC. 

In stock-specific news, Whirlpool (WHR 75.75, -7.46, -9.0%) is sharply lower after announcing a strategic recapitalization to accelerate deleveraging and strategic growth. The aggregate proceeds from the offerings are anticipated to be $800 million.