Market Alert - Pre-Market

Futures vs FV: SP +2.35; DJ -5.29; NASDAQ +0.38

Just the usual this morning: threat of war around the war, political games, some indications of a weaker economy.

Russell to be rebalanced today and that will pump volume. That is the big market event.

Earnings: all misses today
MISSES FL (TL); BBRY (TL); BBBY (TL, BL); SONC (TL)

Banks: Stress tests mostly good. WSJ has a bad mention for MS, GS as their cash levels were near the low end.

Sears: Closing 20 more stores to the 200 already announced.


OTHER MARKETS
Bonds: 2.165% vs 2.148%. Bonds fall, yields rise, but recall bonds gapped higher to start the week.

EUR/USD: 1.1179

USD/JPY: 111.20. Dollar basically steady

Oil: 42.83, +0.09. Definitely no surge/reversal after breaking the bottom of the range.

Gold: 1257.80, +8.40.


Futures are hovering. They were lower, recovered, now flattish. Similar to the market of late. The indices have tested a bit, DJ30 3 days off its high as is SP500. Will NASDAQ and SOX find bids to continue their recovery, or just wander laterally? Futures suggest the latter but we will see if bids return.

Jon Johnson, Chief Market Strategist
InvestmentHouse.com
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