Stock Market Update

The S&P 500 futures currently trade 28 points below fair value. 

Initial jobless claims for the week ended September 20 decreased by 14,000  to 218,000 (Briefing.com consensus: 238,000) from a revised level of 232,000 (from 231,000). 

Continuing jobless claims for the week ended September 13 decreased to 1.926 mln from a prior revised level of 1.928 mln (from 1.920 mln). 

Durable orders were up 2.9% month-over-month in August (Briefing.com consensus -0.5%) after a revised 2.7% drop (from -2.8%) in July.

Excluding transportation, durable goods orders were up 0.4% month-over-month (Briefing.com consensus -0.1%) after increasing 1.1% July.

Q2 GDP was revised up to 3.8% (Briefing.com consensus: 3.0%) from the second estimate of 3.3%.

The GDP Price Deflator was revised up to 2.1% (Briefing.com consensus: 2.0%) from the second estimate of 2.0%.

The Advance Intl. Trade in Goods deficit narrowed in August to -$85.5 bln billion from a revised -$102.8 billion (from -$103.6 bln).

Advance Retail Inventories decreased to 0.0% (prior revised to 0.1% from 0.2%), and Advance Wholesale Inventories were down 0.2%, with the prior level revised to 0.0% (from 0.1%).