Stock Market Update

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

Housing starts totaled 1.256 million in May (Briefing.com consensus 1.356 million) while the April reading was revised to 1.392 million (from 1.361 million) and building permits totaled 1.393 million (Briefing.com consensus 1.411 million) while the April reading was revised to 1.422 million (from 1.412 million).

The latest weekly initial claims tally reached 245,000 (Briefing.com consensus 253,000) after last week's revised reading of 250,000 (from 248,000). Continuing claims reached 1.945 million following last week's revised reading of 1.951 million (from 1.956 million).