Better than feared PPI data and lower than expected claims data
S&P futures vs fair value: +51.20. Nasdaq futures vs fair value: +168.50. The S&P 500 futures trade 51 points, or 1.2%, above fair value.Just in, the Producer Price Index increased 0.5% m/m in September (Briefing.com consensus +0.6%), and core producer prices increased just 0.2% m/m (Briefing.com consensus +0.5%). Year-over-year, producer prices are up 8.6% (vs +8.3% in August) while core producer prices are up 6.8% (vs +6.7% in August).The latest weekly initial jobless claims count totaled 293,000 (Briefing.com consensus 332,000). This was below the prior week's revised count of 329,000 (from 326,000). As for continuing claims, they decreased to 2.593 mln from a revised count of 2.727 mln (from 2.714 mln).