Stock Market Update

The S&P 500 futures currently trade 18 points below fair value.

Just released, Personal Income decreased 0.1% month-over-month in February (Briefing.com consensus 0.5%) after rising 0.4% in January.

Personal spending was up 0.5% month-over-month (Briefing.com consensus 0.6%) following a downwardly revised 0.3% increase in January (from 0.4%).

The PCE Price Index rose 0.4% month-over-month (Briefing.com consensus 0.4%), while the core PCE Price Index, which excludes food and energy, rose 0.4% month-over-month (Briefing.com consensus 0.3%).

Initial jobless claims for the week ending April 4 rose by 16,000 to 219,000 (Briefing.com consensus 215,000) from last week's revised reading of 203,000 (from 202,000).

Continuing claims decreased by 38,000 to 1.794 million from last week's revised reading of 1.832 million (from 1.841 million).

The third reading of the Q4 GDP was revised down to 0.5% (Briefing.com consensus 0.7%) from the second estimate of 0.7%. The GDP Price Deflator was revised to 3.7% from 3.8% in the second estimate.