Market Alert - Pre-Market

Futures vs FV: SP -2.41; DJ -5.34; NASDAQ -9.26

Futures slop around for yet another start as the indices, sporting good pullbacks for SP500, DJ30, NASDAQ, are not ready to try to bounce as of the open.

There is news, just none that is enough to lift stocks.

GOP unveils its secret plan to end the ACA, and as some are saying, it is the Obama-light that was fears by many such as Senator Paul, Senator Cruz, etc. It does look like just a light version of the current law as it does not envision across state line sales. Not sure how it can bring rates down (though no ACA as it is will help) significantly and open up a real market.


Earnings beats: DKS; THOR

Misses: MIK (TL); NAV (TL, BL); CASY (TL, BL)


Trade Deficit: spikes to a 5 year high


EU: German Industrial Orders -7.4%, the largest drop since January 2009, a rather infamous period in economics. While many speculate on a big European slowdown, I think it is more related to the uncertainty of the German and other elections.


Copper: Falls to a 1 month low, breaking some support levels. Copper is viewed as the foundation for economic moves higher.


WikiLeaks: To unveil "Vault 7", whatever that is.


OTHER MARKETS
Bonds: 2.509% versus 2.49% 10 year

EUR/USD: 1.0568 vs 1.05764

USD/JPY: 114.102 VS 113.966

Oil: 53.62, +0.42. Trying a rebound again, still has to deal with 54-55

Gold: 1220.70, -4.80


Stock futures are still sloppy ahead of the open. Watching SOX of course as it sports a bit of chop the past 1.5 weeks, but also SP500, DJ30, and NASDAQ as they have tested the prior Wednesday break to higher highs: will the bids return this session and start a renewed bounce.
Jon Johnson, Chief Market Strategist
InvestmentHouse.com
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