Market Alert - Pre-Market

Futures vs FV: SP +0.63; DJ -10.60; NASDAQ +17.20

Futures are back and forth, mostly lower, but rallying toward the open. Tariffs, trade wars and earnings. Tariffs on solar panels and washing machines have China and SKorea 'vowing' retaliation, but their markets and are markets are somewhat shrugging because the levels were less than expected.

NFLX crushes, ADBE guides higher and these earnings are promoting better upside than IBM, AXP. That is a nice turn. Will see if it is enough for a market already up.


Sentiment is mixed and that can be good.

Dalio says stocks could surge again and leave people in cash feeling stupid.

Paulson says a 'gut-check correction' will tear up the rally. Take your pick.


Jobs: KMB lays off 5K. Will the tariffs help it? It blames foreign competition.


Davos: Trump on the way.


OTHER MARKETS
Bonds: 2.62% vs 2.656%. Bonds rebound

EUR/USD: 1.2234 vs 1.226

USD/JPY: 110.47 vs 110.70

Oil: 64.09, +0.52

Gold: 1334.10, +2.20


Futures are decent, NASDAQ up thanks to NFLX, AMZN. That works. A bit of softness on DJ30, SP500, as seen before is good. Monday it was the large caps leading, FAANG in front. Looks as if FAANG will be in front again. Will the small and mids show up in the lead again?

The point: there are options in leadership.

Jon Johnson, Chief Market Strategist
InvestmentHouse.com
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