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Wednesday, February 1, 2017

Market Alert - Early Action

ISM, Jan: 56.0 vs 55.0 exp vs 54.5 December.
Highest since 11/14

New orders: 60.4 vs 60.3
Employment: 56.1 vs 52.8
Prices: 69.0 vs 65.5

Construction Spending, Dec: -0.2% vs 0.2% exp vs 0.9% November

Stocks are up on the gap higher but are fading off that opening high. Will have to see if the bids can hang in and the market continues the Tuesday afternoon rebound off the selling.

Bonds are selling: 2.511% 10 year

SP500 5.36, 0.23%
NASDAQ 31.23, 0.55%
DJ30 74.55, 0.39%
SP400 0.42%
RUTX 0.87%
SOX 1.02%

Not moving into anything yet as the early gap is having some issues. Indeed, watching to see if this is as good as it gets.
Jon Johnson, Chief Market Strategist
InvestmentHouse.com
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