Futures vs FV: SP +15.43; DJ +175.14; NASDAQ +44.36
Okay, round 2. Futures started early with a gap higher and have moved up since that open versus a static, flat line morning. That said, not a 45 degree ramp, just a steady climb that is being tested just a bit toward the open.
No major news driving it, just a very strong uptrend that is not going to go away quietly. Thus the but the dip reflex remains very strong as evidenced today with upside without a lot of news.
Earnings beats: BAC, GS. BAC much better overall than GS
Misses: CSX (TL)
Budget impasse likely on DACA and they are talking about a budget extension or funding extension again. That works. No reason to hurry on DACA and immigration right now with the court order. Get it right.
Sales: TIF reports +5% holiday sales.
M&A: CELG buying JUNO
GE: Talk of a breakup as soon as spring.
Upgrades: IBM, DG, DLTR
Downgrades: AAPL
California: Rural counties (all those outside the coastal counties just north of San Francisco to just south of LA) want a vote to split into the 51st state and present it to Congress under Article IV, Sections 3 and 4.
Industrial Prod, Dec: 0.9% vs 0.5% ex vs -0.1 prior (from 0.3%)
Capacity: 77.9 vs 77.3 exp vs 77.2 prior from 77.1
OTHER MARKETS
Bonds: 2.563% vs 2.535% 10 year. Bonds fall a bit, still under pressure
EUR/USD: 1.2217 vs 1.22698. Dollar a bit stronger.
USD/JPY: 110.79. Dollar still struggling
Oil: 63.65, -0.08
Gold: 1336.00, -1.10
Futures are off the highs but are starting higher. That, again, gives any sellers the opportunity to sell the market and likely they will take a shot again as they were successful Tuesday. Again we will see the buyers and sellers fight it out and who can get the upper hand today.
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
No comments:
Post a Comment