Futures vs FV: SP +1.83; DJ +10.47; NASDAQ +2.48
Stocks futures are slightly higher in a slow pre-market that is holding the gains from Friday. Backed off earlier highs but not much. Kind of a slow morning with nothing to take stocks down from last week's new highs on SP500, NASDAQ, SP400.
China: IMport/export data misses.
Imports: -12.5% vs -8.4% prior. Down 21 straight months
Exports: -4.4% vs -4.8% prior. Down 12 of 13 months.
PBOC promises 'innovative' stimulus. Ooooh.
WMT buying Jet.com in order to compete with Amazon.
Fed: Powell says wants patience due to 'growth risks.' But are we not so strong as the jobs report 'proves?'
Oil: Talk of a possible OPEC production cut (or is that just rank rumor?) has oil holding last week's gains, even extending them.
OTHER MARKETS
Bonds: 1.592% vs 1.585%. Late week drop on jobs report continues with more weakness on the new week.
EUR/USD: 1.1086
USD/JPY: 102.477
Oil: 42.50, +0.70
Gold: 13339.80, -4.60
Not a lot of excitement, but after a good move to end the week, that is a good thing. Still plenty of stocks in position to move, still plenty of negative money managers.
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