Stock Market Update

The S&P 500 futures currently trade 62 points above fair value.

Just released, initial jobless claims for the week ending June 13 increased by 4,000 to 226,000 (Briefing.com consensus: 226,000) from the upwardly revised prior level of 230,000 (from 229,000).

Continuing claims for the week ending June 6 increased by 24,000 to 1.810 million from the downwardly revised prior level of 1.786 million (from 1.795 million).

The Philadelphia Fed Index expanded to10.3 in June (Briefing.com consensus 10.0), from the prior reading of -0.4.