Stock Market Update

The S&P 500 futures are down seven points and are trading 0.1% below fair value, the Nasdaq 100 futures are down 35 points and are trading 0.1% below fair value, and the Dow Jones Industrial Average futures are down 26 points and are trading 0.1% below fair value.

The ADP Employment Change estimated 150,000 private payrolls were added in June (Briefing.com consensus 163,000) following a revised increase of 157,000 in March (from 152,000).

Weekly initial jobless claims totaled 238,000 (Briefing.com consensus 235,000) following a revised count of 234,000 last week (from 233,000). Continuing claims came in at 1.858 million following last week's revised count of 1.832 million (from 1.839 million).

The trade deficit increased to $75.1 billion in May (Briefing.com consensus -$76.0 billion) from $74.5 billion in April (revised from $74.6 billion).