Market Alert - Pre-Market

Futures vs FV: SP +1.05; DJ +34.47; NASDAQ +4.38

After waffling at the flat line most of the pre-market, futures are on a run higher toward the open, trading at session highs toward the bell.

What great economic news is out there? None. The focus this morning is on the Trump press conference where they will discuss tax plans, healthcare plans, immigration -- or not. The big story is the fake news that CNN, Buzzfeed, and others reported about a Russian dossier on Trump. A made up story from a blogger was reported as news and is even in the CIA file on Trump. NYT accuses CNN et al of peddling fake news. Talk about the pot calling the kettle black. Welcome to the new McCarthyism -- I have a list in my hand of 200 websites and news sites peddling fake news . . . History repeats yet again.

So with all of this futures are . . . up. Optimism reigns.

Jobs: WMT to lay off 1K more white collar workers to pay for those minimum wage hikes. BA memo says there will be involuntary layoffs in 2017.

World Bank: Lowered 2017-18 world growth -- by 1BP

Currencies: Turkish lira -11% in 2017. Peso hits a new record low ahead of Trump presser. The handwriting is on the wall for Mexico: clean up the corruption and rout out the drug lords if you are going to make it. I think it will. Too rich and great a history.

OTHER MARKETS
Bonds: 2.370% vs 2.48% 10 year

EUR/USD: 1.058 VS 1.0555

USD/JPY: 116.18 vs 115.811

Oil: 51.45, +0.63. Trying to bounce back from failing the breakout. Again.

Gold: 1186.60, +1.10. Still at the 50 day MA's on this bounce from the lows.

The market has showed less than enthusiasm this year, but there is a feeling things will be better. So, the market is tired, the mood is still positive, what to do? By the old standbys, the household name FAANG stocks. That is what is happening -- along with a few other here and there, e.g. NTES, BABA as those are hotter right now.

The market showed some signs of spreading out Tuesday, e.g. FCX sported a solid day and the chips looked a bit better. We are also still looking at biotechs/healthcare stocks as they are getting money and in some cases are moving ferociously.

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


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