Stock Market Update

The S&P 500 futures currently trade 50 points above fair value. 

Initial jobless claims for the week ending September 13 decreased by 33,000 to 231,000 (Briefing.com consensus: 245,000), from an upwardly revised prior level of 264,000 (from 263,000). 

Continuing jobless claims for the week ending September 6 were 1.920 million, a decrease of 7,000 from the previous downwardly revised level of 1.927 million (from 1.939 million). 

The Philadelphia Fed Index for September increased to 23.2 (Briefing.com consensus 3.0) from a prior level of -0.3.