Stock Market Update

The S&P 500 futures currently trade 11 points above fair value.

Just released, initial jobless claims for the week ending April 11 decreased by 11,000 to 207,000 (Briefing.com consensus: 215,000) from a downwardly revised 218,000 (from 219,000).

Continuing jobless claims for the week ending April 4 increased by 31,000 to 1.818 million, from a downwardly revised 1.787 million (from 1.794 million).

The Philadelphia Fed Index expanded to 26.7 in April (Briefing.com consensus 12.7), from a prior reading of 18.1.