Stock Market Update

The S&P 500 futures currently trade 10 points above fair value. 

Just released, the ADP Employment Change Index showed Private sector employment increased by 22,000 jobs in January (Briefing.com consensus 43,000) and pay was up 4.5 percent year-over-year according to the January ADP National Employment Report® produced by ADP Research in collaboration with the Stanford Digital Economy Lab. 

The prior month's reading was downwardly revised to 37,000 from 41,000.