Stock Market Update

The S&P 500 futures currently trade 27 points above fair value. 

December nonfarm payrolls increased by 50,000 (Briefing.com consensus: 55,000) after increasing by a revised 56,000 (from 64,000) in November.

December private sector payrolls increased by 37,000 (Briefing.com consensus: 50,000) following a 50,000 increase (from 69,000) in November.

The December unemployment rate was 4.4% (Briefing.com consensus: 4.5%) versus a revised 4.5% (from 4.6%) in November.

December average hourly earnings were up 0.3% (Briefing.com consensus: 0.3%) versus a revised 0.2% (from 0.1%) increase in November.

The average workweek in December was 34.2 hours (Briefing.com consensus: 34.3) versus 34.3 hours in November.

Total housing starts declined to an adjusted annual rate of 1.306 million in September (Briefing.com consensus: 1.320 million) from 1.307 million in August. Housing starts then declined again in October to 1.246 million (Briefing.com consensus 1.340 million). 

Building permits increased to a seasonally adjusted annual rate of 1.415 million in September (Briefing.com consensus: 1.340 million) from a revised 1.330 million (from 1.312 million) in August. Building permits then decreased to 1.412 million in October (Briefing.com consensus 1.355 million).