Market Alert - Pre-Market

Futures vs FV; SP -0.99; DJ +19.04; NASDAQ -3.92

Futures were modestly higher then faded the past 1.5 hours as earnings were okay, just not exciting much buying -- again.

MS, GS, JNJ beats help DJ30, but BA is down as Airbus/Bombardier kind of JV on a specific plane. That is a Dow Drag.

Misses: UNH (TL); SONC (TL)
Beats: MS; GS; JNJ; HOG (but a 40% profit decline)

Production: 0.3 vs 0.2 vs -0.7 August (from -0.9)

Capacity: 76.0 vs 76.1 exp vs 75.8 Aug (from 76.1)


Import/Export prices jump on fuel costs


OTHER MARKETS
Bonds: 2.325% vs 2.302%. Fading some after the rally

EUR/USD: 1.17512

USD/JPY: 112.36. Dollar stronger

Oil: 52.05, +0.18

Gold: 1286.90, -16.10


Lots more earnings to come as the day continues and after the close. NFLX is not providing much upside. Not many are despite results. Looks like another familiar session ahead, i.e. sluggish gains as there is no real reaction to results. Again, the question is whether the bids return in the small and midcaps after they led, tested, and are in good position.


Jon Johnson, Chief Market Strategist
InvestmentHouse.com
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