Stock Market Update

The S&P 500 futures currently trade in line with fair value. 

Just released, Housing starts decreased 15.4% month-over-month in May to a seasonally adjusted annual rate of 1.177 million units (Briefing.com consensus: 1.440 million) from a downwardly revised 1.392 million (from 1.465 million).

Building permits decreased 0.7% month-over-month to a seasonally adjusted annual rate of 1.413 million (Briefing.com consensus: 1.410 million).

Import prices rose 1.9% in May after an upwardly revised 2.0% increase in April (from 1.9%).

Excluding oil, import prices rose 0.8% after a downwardly revised 0.6% increase (from 0.8%) in April.

Export prices rose by 1.3% in May after an upwardly revised 3.5% increase in April (from 3.3%).

Excluding agriculture, export prices rose 1.2% after an upwardly revised 3.7% jump in April (from 3.4%).