Market Alert - Pre-Market

Futures vs FV: SP -4.94; DJ -22.89; NASDAQ -9.75

Futures down all morning and indeed trending lower in big sweeps up and down. Three days of, overall, modest upside gains (SOX moved very well) and testing is giving way to another session of early weakness as seen Wednesday, but of course this early weakness is a bit harsher.

Solid earnings from C and JPM (though JPM missed on its bond trading) are not exciting stocks though C is up a nice 0.90 pre-market -- individual results driving individual stocks while most stocks are sluggish to start Thursday.


PPI, Sept: 0.4 vs 0.4 exp vs 0.2 August. 2.6% year/year vs 2.4% Aug. Largest increase in 2 years

Core PPI: 0.4% vs 0.2% vs 0.1% prior. year/year 2.1% vs 1.9% Aug
5 year high.


Healthcare: President is set to issue an EO on the ACA, trying to curtail its impacts on those who did not receive waivers. There are limits on what a President can do given the specifics of the act designed to prevent tinkering. For example, the President can say you can buy across state lines but the ACA dictates how much the plan will cost. It is what always happens with the single-payer, government dominated systems: even if you want and can go somewhere else for a better deal, you are blocked by the government. THAT is the single most proof that these do not create 'markets' as the government likes to say: a market WANTS to spring up but is blocked.


OTHER MARKET
Bonds: 2.336% vs 2.345%

EUR/USD: 1.1848 vs 1.18612

USD/JPY: 112.36 vs 112.414

Oil: 50.60, -0.63

Gold 1294.50, +5.60


Stocks will open lower for a second session. WED saw bids return though rather weakly outside of SOX. We will see if the bids return as earnings just start to hit the wire.


Jon Johnson, Chief Market Strategist
InvestmentHouse.com
______________________________________
Alert Key
http://www.investmenthouse.com/alertkey.htm

PLEASE DO NOT REPLY TO THIS EMAIL. USE THE CONTACT US PAGE ON OUR WEBSITE.

Customer Support: http://investmenthouse.com/contact_us.php