Stock Market Update

The S&P 500 futures currently trade 29 points above fair value.

Just released, the producer price index for final demand increased 1.1% month-over-month in May (Briefing.com consensus: 0.7%) following a downwardly revised 1.1% increase (from 1.4%) in April.

Excluding food and energy, the index for final demand jumped 0.4% (Briefing.com consensus: 0.4%) on the heels of a downwardly revised 0.7% increase (from 1.0%) in April.

Initial jobless claims for the week ending June 6 increased by 4,000 to 229,000 (Briefing.com consensus: 222,000) from an upwardly revised prior level of 225,000 (from 215,000).

Continuing jobless claims for the week ending May 30 increased by 24,000 to 1.795 million from a downwardly revised prior level of 1.771 million (from 1.786 million).