Market Alert - Pre-Market

Futures vs FV: SP +1.56; DJ +28.00 NASDAQ +0.32

Futures were up, faded, now edging back into positive territory into the open. As with Wednesday, nothing major going on here. Looks more like just passing time ahead of the jobs report.

BOE: Cut rates 25BP to 0.25%, first since 2010. Upped QE GBP60B in government bonds (435B total) and increased corporate bond purchases GBP10B.

Jobless claims: 269K vs 264k exp vs 266k prior

Japan: Lawmaker says Japan needs a 'wage target policy.' Okay, that always works. Did great in the US in the early 1970's. Sure, go ahead and try THAT one.

Heavy truck orders: Hit the lowest since 2010 as some orders are cancelled. Too many trucks chasing too little freight? Why is freight lower? Cannot be because of a weaker economy. Those things, as we have learned from the events of the past 24 hours, are unrelated. Indeed, it would appear there is no cause and effect in the world. BOE to buy 60B more in bonds and bonds surge, yields tumble. No relationship: there just happened to be people wanting to buy a lot of gilts today and send prices jumping JUST as the BOE announced its new policy.

Earnings: Basically of no impact. The big takeaway is S&P earnings are to be down at least 2.6% this quarter. Yet the stock market is at new highs.



OTHER MARKETS:
Bonds: 1.518% vs 1.54%. Tennis match continues in bonds, as hold potential double bottom pullback.

EUR/USD: 1.1143 VS 1.1149

USD/JPY: 101.11 VS 101.28
Oil: 40.75, -0.08

Gold: 1369.60, +4.9


Modest futures gains as the market looks to be idling ahead of jobs. There are some really good pullbacks in place, however, and if they show the moves, we will be picking some up.

Jon Johnson, Chief Market Strategist
InvestmentHouse.com
______________________________________
Alert Key
http://www.investmenthouse.com/alertkey.htm


Customer Support: http://investmenthouse.com/contact_us.php