Market Alert - Pre-Market

Futures vs FV: SP +4.19; DJ +61.20; NASDAQ +13.35

Futures bled higher in the last session Wednesday and that carried over into the open today with futures trading in a range all morning. As the bell approaches futures are back to the bottom of the morning range. This action is not that convincing it will hold the morning gains.


Retail sales, NOV: 0.8% VS 0.3% EXP VS 0.5% Oct(FROM 0.2%)

Ex-Autos: 1.0 vs 0.65 ex vs 0.4% prior (from 0.1)

Control Group: 0.8 vs 0.4% prior

Clothing +0.7%; sporting goods 0.9%; online2.5%; food and drink: 0.7%


ECB, BOE leave rates as is.


Fox/DIS deal is officially announced.



OTHER MARKETS
Bonds: 2.369% vs 2.367%

EUR/USD: 1.1812. Euro is higher as ECB holds pat on rates, likes its liquidity position

USD/JPY: 112.65 vs 112.53

Oil: 56.16, -0.44. Continues to struggle in a consolidation of the recovery high

Gold: 1256.30, +7.10


Futures a bit off their highs into the open. Again, FAANG and large cap tech have to reignite to the upside as they are stalling on their rebound attempt. Small caps were promising Wednesday and will see if they can follow through today.

Jon Johnson, Chief Market Strategist
InvestmentHouse.com
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