Futures vs FV: SP +3.89; DJ +57.63; NASDAQ +16.73
Futures modestly higher, rallying early session but the past 1.5 hours sliding some toward the open. Trying to continue the Monday momentum but understandably a bit slower after such a rush higher, a rush some are saying was a once in a decade move. Hmmm.
Not a lot of hard economic news this morning.
Mnuchin: Talking with the Alpha people or whatever that is. Nothing new there.
North Korea: Promises "greatest possible pain" US has ever experienced. Sure.
OPEC: Production falls for the first time since March. Wow those cuts are finally taking hold, huh?
Sun: Eruption could cause magnetic interference here on planet earth today.
Online ads: RH says 98% of its revenue online comes from 22 of the 3200 words it buys. Those words? The name of the company and 21 derivations of misspellings of that name.
OTHER MARKETS
Bonds: 2.158% vs 2.134%
EUR/USD: 1.1936 vs 1.1955
USD/JPY: 109.92 vs 109.434
Oil: 47.88, -0.18
Gold 1330.00, -5.70
Stocks are starting back up after the 1.5 hour pre-market dip off the highs. Hey, maybe the bids will return and the rally continues. That would be great, driving our positions higher taken when things were not so clearly upside.
Jon Johnson, Chief Market Strategist
InvestmentHouse.com
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