Market Alert - Pre-Market

Futures vs FV: SP +7.59; DJ +89.76; NASDAQ +8.49

Futures are rallying to the open. Up ahead of ADP, ramping very well post-ADP.

ADP, Mar: 263K vs 175K exp vs 245 prior (from 298K).

Highest since 2014.

Manufacturing jobs grow is a leader again in this report as in February.


M&A: PNRA bought by JAB, the owner of Krispy Kreme and Green Mountain Coffee (Keurig)


ISM Services EU: 56.0 VS 56.5 PRIOR
UK Svc PMI: 55.0 VS 53.3 PRIOR. Brexit downturn?
Germany: 55.6 vs 55.6


AAPL: Digitimes discusses a rumor that iPhone 8 may be delayed a month or two.


FOMC: Minutes at 2:00ET


China: Stock market rallies 1.5%. North Korea launches a missile ahead of Xi/Trump meeting this weekend. Some predicting Trump's 'first' war will be with NKorea.


OTHER MARKETS
Bonds: 2.363% vs 2.35%. Bonds off a bit today after their rally.

EUR/USD: 1.0668 VS 1.0682

USD/JPY: 111.185 vs 110.7050. Dollar rallying.

Oil: 51.67, +0.64. API -1.8M bbl.

Gold: 1251.60, -6.80


There is a definite upside jump in futures this morning versus a range-bound futures showing that leads to lackluster sessions. Thus this one holds the promise that perhaps NASDAQ can break higher and this time hold it. SP500 and DJ30 are poised to rally off the 50 day MA. SOX remains solid at the 20 day EMA.

Ready to move and will gap higher at the open. Will the sellers take a shot at this? Pretty strong open and the sellers have been somewhat afraid to really step in front of rallies. Thus we will see if we can pick up some more good stocks in good position.


Jon Johnson, Chief Market Strategist
InvestmentHouse.com
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