Futures vs FV: SP +6.74; DJ +67.34; NASDAQ +16.26
It looks as if stocks are going to try the upside again early on. This time futures are stronger than Monday to Wednesday. This time it is after a 3-day pullback testing the Friday jobs report move. That gives this early bounce more credence, but it will have to hold it. Of course.
Import Prices: 0.1% vs 0.6% prior;
Ex-oil: 0.5 vs -0.3% prior
Export: 0.2 vs 0.8 prior
Ex-Ag: 0.3 vs 0.5 prior
24 months of declining import prices.
Central Banks: New Zealand cuts rates 25BP to 2.00%, states more likely.
Earnings beats: KSS, BABA, M (but closing 100 stores)
Jobless claims: 266K versus 267K prior
OTHER MARKETS
Bonds: 1.107 vs 1.51% 10 year. Holding gains.
EUR/USD: 1.1156 VS 1.1178
USD/JPY: 101.26 vs 101.235
Oil: 41.85, +0.14
Gold: 1351.80, -0.10
Retail sales are out Friday, the big report for the week, but stocks are ready to try to make the move ahead of time as futures are up a more significant amount than Mon-Wed.
The key, of course, is whether this time they don't forget the gravy, i.e. they hold the moves. Stocks will be jumping on the open, but after a 3-day pullback most are coming off a decline. Thus you want to see them hold the gains, show some volume, then we have some entries.
Jon Johnson, Chief Market Strategist
InvestmentHouse.com
______________________________________
Alert Key
http://www.investmenthouse.com/alertkey.htm
Customer Support: http://investmenthouse.com/contact_us.php
No comments:
Post a Comment