Stock Market Update

The S&P 500 futures are down 40 points and are trading 0.6% below fair value, the Nasdaq 100 futures are down 200 points and are trading 0.9% below fair value, and the Dow Jones Industrial Average futures are down 200 points and are trading 0.9% below fair value.

Retail sales increased 0.4% in October (Briefing.com consensus 0.3%) following a revised 0.8% increase in September (from 0.4%). Retail sales, excluding autos, rose 0.1% in October (Briefing.com consensus 0.2%) following a 1.0% increase in September (revised from 0.5%).

Import prices rose 0.3% in October following a 0.4% decrease in September. Import prices, excluding oil, rose 0.2% in October following a 0.2% increase in September (from 0.1%).

Export prices rose 0.8% in October following a 0.6% decrease in September (revised from -0.7%). Export prices, excluding agriculture, rose 0.6% in October following a 0.8% decrease in September (revised from -0.9%).

The NY Fed Empire State Manufacturing survey jumped to 31.2 in November (Briefing.com consensus 3.3) from -11.9 in October.