Market Alert - Pre-Market

Futures vs FV: SP -1.3; DJ -1.78; NASDAQ -9.52

Sluggish futures after higher highs. Tuesday upside futures faded but were bought again. Will this softer open spring more buying?

There is some reason. WDC upped its guidance big time noting increasing PC demand and other areas. MU says chip demand is up. Wow.

Mtges: Apps -0.7% versus -9.4% prior

PLAY: Reports solid earnings as people go to play.

Trump: Lots of moaning about BA and now the drug companies as Trump says he will bring prices down. Rep. Ryan on CNBC in responding to the BA comments missed the ball when one left leaning anchor asked how is that conservative. Is not trying to keep tax payer dollars spent lower the most conservative position? Ryan missed it, as usual.

Drugs: Perhaps it won't be a Trump fiat, perhaps it will be a better competitive environment?



OTHER MARKETS
Bonds: 2.373 vs 2.39% 10 year

EUR/USD: 1.0736 VS 1.0719

USD/JPY: 114.05 VS 113.993

Oil: 50.45, -0.48

Gold: 1180.60, +10.50


We will see what kind of bids return after a moderately softer open.

Jon Johnson, Chief Market Strategist
InvestmentHouse.com
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