Market Alert - Pre-Market

Futures vs FV: SP -6.75; DJ -53.00; NASDAQ -43.00

Futures are off the morning lows but remain weak, with the most weakness skewed toward NASDAQ. It would appear as if, after a day of SOX and NASDAQ bouncing, the newer pattern has reasserted itself with NYSE indices showing at least relative strength as money leaves techs.

The interesting corollary of this action will be whether RUTX, SP400 receive money or sell at the same intensity of NASDAQ. Growth indices tied to domestic economics and thus important.

Economics.

ADP: 158K vs 185K exp vs 230K May. Slowing market and NO, as in zero, manufacturing jobs created in June. But, Mark Zandi says the jobs market is 'powering on.' Yes, the manufacturing workers feel the power.

G-20: Starting up, Trump to meet with Putin and slams Russia ahead of it in typical 'Art of the Deal' fashion. Amazing how many still don't get that is how he works. The Chinese do; they read the book. Know your adversary, right?


OTHER MARKETS
Bonds: 2.377% vs 2.33% 10 year

EUR/USD: 1.1383. Dollar sluggish ahead of G-20 start

USD/JPY: 113.23

Oil: 45.82, +0.69. Oil trying to resume its rise in its range.

Gold: 1225.00, +3.30


Okay, after that new money on the first full day of July, the move reverses to what it flashed Monday in that half session. At least futures are recovering some ahead of the bell, showing the bids are not dead yet. Thus after a weaker open we will see if the bids continue.





Jon Johnson, Chief Market Strategist
InvestmentHouse.com
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