Futures vs FV: SP +3.16; DJ +15.9; NASDAQ +7.11
Short week with Good Friday on . . . Friday.
That US Naval battle group is still heading toward North Korea, Iran and Russia say they will respond with force if the US crosses another 'red line', Trump muses he 'would hit' Syria again if necessary. Futures? They are higher.
M&A: Swift and KNX (trucking) are merging in a stock swap.
M&A: T buys Straight Path
AMZN, TSLA both upgraded
Fed: Yellen to take Q&A today via Twitter (and elsewhere) after a speech at University of Michigan. Perhaps she will clarify Dudley's and Bullard's comments Friday and over the weekend.
That is about all the US news.
France: Election in turmoil as communist party candidate jumps in the polls. That is said to favor Le Pen, the anti-EU candidate.
Russia: A Russian hacker was picked up in Spain on a US international arrest warrant. Speculation runs from US election tampering to Reuters reporting it was just a criminal warrant.
OTHER MARKETS
Bonds: 2.371% vs 2.37%
EUR/USD: 1.0578 vs 1.05906
USD/JPY: 111.270
Oil: 52.78, +0.54
Gold: 1251.10, -6.20
SP500, DJ30, SOX tested the 50 day EMA, held. Some chips started higher Friday. Some metals looked better. Can the indices and those groups make good on a pretty good looking setup? We have some good-looking plays with great set ups. Futures continue to look solid enough, but what happened last week on a solid open? It reversed. Something to keep in mind, so we will see if the early moves can hold.
That said, there are stocks such as BRKS, EXAS that moved pretty well Friday and we like those if they continue to move.
Jon Johnson, Chief Market Strategist
InvestmentHouse.com
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