Stock Market Update

The S&P 500 futures are down 52 points and are trading 0.9% below fair value, the Nasdaq 100 futures are down 285 points and are trading 1.4% below fair value, and the Dow Jones Industrial Average futures are down 101 points and are trading 0.2% below fair value.

Housing starts totaled 1.353 million in June (Briefing.com consensus 1.31 million) following a revised count of 1.314 million in May (from 1.277 million). Building permits totaled 1.446 million in June (Briefing.com consensus 1.391 million) following a revised count of 1.399 million in May (from 1.386 million).