A.M. Update

S&P futures are flat. Weekly initial jobless claims totaled 235,000 (consensus 240,000) following a revised count of 245,000 last week (from 243,000). Continuing claims came in at 1.851 million following last week’s revised count of 1.860 million (from 1.867 million). Durable goods orders dropped sharply by -6.6% in June (consensus +0.4%) following a 0.1% increase…