Stock Market Update

The S&P 500 futures currently trade 18 points below fair value.

The revised reading of the Q1 Nonfarm business sector saw labor productivity increase 0.3% in the first quarter (Briefing.com consensus: 0.8%%) from the prior reading of 0.8%.

Q1 Unit labor costs were revised down to a 1.8% increase (Briefing.com consensus: 2.3%) from the prior reading of 2.3%.

Initial jobless claims for the week ending May 30 increased by 13,000 to 225,000 (Briefing.com consensus 216,000) from last week's revised reading of 212,000 (from 215,000).

Continuing jobless claims for the week ending May 23 fell to 1.777 million from a revised 1.785 million (from 1.786 million) in the prior week.