Market Alert - Pre-Market

Futures vs FV: SP +5.82; DJEO0 +59.99; NASDAQ 25.32

Global markets are better though not raging. US futures are strong, however, as SP500 and DJ30 push to new highs and SP400 midcaps look to join them.

There is some news overseas regarding some minor EU economic data. Of course it is better news; that is the central theme all countries and central banks are putting out after Brexit: all is well, remain calm.

On a related note, the IMF has admitted its gloom forecast about the end of the world because of Brexit was perhaps just a tad overdone, just perhaps some fabrication.

US news is dominated by earnings. MS beats top and bottom line though lower than a year ago. ABT (drugs) beats top and bottom line as well. All is certainly well because the huge companies are able to cut costs again and get those earnings up.

So the economic headlines are written up, earnings are reported non-GAAP and flip losses to gains, and the general consensus is that, despite the reported better economic data and despite the world markets recovering the Brexit losses and more, more central bank stimulus is surely to come or at least they are not going to be foolish enough to talk about tightening.


OTHER MARKETS
Bonds: 1.56% vs 1.56%

EUR/USD: 1.0997 VS 1.1021. Dollar rallies

USD/JPY: 106.60 vs 106.135. Dollar trying to make that trend break.

Oil: 43.86, -0.79

Gold: 1316.60, -15.70


So, markets open higher today after a Tuesday lower open that recovered off the lows but did not surge. Okay, another 1-day rest followed by upside.

Looking at some GOOG, AMZN and the other ring leaders that are up pre-market.

Jon Johnson, Chief Market Strategist
InvestmentHouse.com
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