Futures vs FV: SP +7.31; DJ +63.19; NASDAQ +26.75
There is a lot of news but not a lot of market centric news.
Earnings beats: AVGO; FNSR
Misses: DLTH, RH, MTN
"Sugar High" markets: Marc Larsey, hedge fund manager. More are very suspicious of the move. Fueling more upside?
The global political change continues: South Korea's president is impeached relating to a corruption scandal.
Dallas Pension System suspends withdrawals because, as we noted 4 weeks ago, police were opting to take their full pension benefits now as they feared having nothing in the future. It's their money isn't it? This is the first step in ultimately taking 401K's or a good part of them if there is another crisis.
New McCarthy's: "Fake news" methodology of the Washington Post would find the IRS, Census Bureau, St. Louis Fed to be issuers of 'fake news.' This is going to be a huge problem for free speech. There is a current majority on the FCC that wants to limit what people can put on the web. Censorship by another name. Not really. It is clearly censorship.
OTHER MARKETS
Bonds: 2.411% versus 2.40%
EUR/USD: 1.0567 vs 1.06134
USD/JPY: 114.98 vs 114.24
Oil: 51.63, +0.69
Gold: 1166.90, -5.50
Futures are up but heading back some toward the open. We are going to watch how they trade, likely take some gain today and see where things shake out next week.
Jon Johnson, Chief Market Strategist
InvestmentHouse.com
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