Market Alert - Pre-Market

Futures vs FV: SP +2.40; DJ +31.79; NASDAQ +37.16

Futures are at the morning highs but have range-traded since the open. No trend higher but holding a gain. Of course, as seen time after time the past three weeks in the increased day to day volatility, the pre-market does not often reflect the morning action. Stocks will start higher, however, buoyed by the AAPL earnings, and as anticipated AAPL's coattails are helping AVGO, SWKS, etc.

Jobs: 261K vs 300K vs 18K (from -33K); Aug revised up 39K, so 99K jobs added back the 2 prior months.

Unemployment: 4.1 vs 4.2 vs 4.2. But, it was an exodus from the workforce that caused the drop.

Wages: 0.0 vs 0.1 vs 0.5 prior

Participation: 62.7%. Labor force -765K; total out of work force -968K.
A record 95.385M people are out of the work force.

Food and Drink: +89K

Biz Professional +50K

Manufacturing +24K

Retail -8400

Mining -2000


Trump: Asian trip starts today. Will the longest since Bush I threw up on the Japanese PM's lap during dinner. Ah what a classic, Animal House-esque moment. Cannot make that stuff up.

OTHER MARKETS
Bonds: 2.345% vs 2.349%

EUR/USD: 1.1656 vs 1.16515

USD/JPY: 113.98 vs 113.845

Oil: 54.71, +0.16

Gold: 1276.70, -1.40


Stocks a bit off the morning highs but set to open upside. It is Friday and last Friday was strong so who knows what will happen. Not the big gap open from last Friday, but steady. Markets are volatile but steady. If we get some entries, it has shown to be a good move.

Jon Johnson, Chief Market Strategist
InvestmentHouse.com
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