Market Alert - Pre-Market

Futures vs FV: SP -9.57; DJ -74.11; NASDAQ -55.63

Stocks are set to start April lower with NASDAQ again the percentage loser of the group. Thursday the indices bounced from support with SP500, DJ30 holding over the February closing low all week. The indices held where they needed to hold, and now Monday is going to test them again.

The return of the 'usual' issues of late, dominate the headlines in a relatively light news session.


Tariffs: China announces tariffs on 128 US products. Putting names on the $3B in tariffs it threatened last week. This is nothing new, just telling everyone what products it is tariffing.


AMZN: President issues more tweets about AMZN, claiming it is a 'scam' (not too sure how it is a scam), and that it costs the USPS 'billions.' But then again, doesn't the USPS set rates? Politics and regulation in a social media world, ushered along by a media that does not really provide coverage the way it used to. Another problem that technology has helped cause, not solve. Hmm, too deep for post-3 day holiday.


FB: Zuckerburg claims 'no fair' in response to Tim Cook's comment last week about FB's user data issues. Fix your problems, don't cry about it. Oh, if FB DOES fix the problems that people see with it, FB value is about 1/10 what it is now because for FB it is ALL ABOUT gaining data on its users to sell to advertisers.


M&A: WMT and HUM are talking about a 'partnership' or it could be WMT outright acquiring it.


Europe: Markets closed.


OTHER MARKETS
Bonds: 2.772% vs 2.714%

EUR/USD: 1.2334 vs 1.23234

USD/JPY: 106.42 vs 106.286

Oil: 64.93, -0.01

Gold: 1338.20, +10.89


Futures are trading in the same range they started in. Rallied off morning lows 2 hours back, now fading back down after testing the morning highs and failing to take them out. As noted, the stock indices will again have to show they can hold the same support with NASDAQ leading the weakness again. The big name NASDAQ stocks are still unable to find bids and we are watching for any other groups to step up.



Jon Johnson, Chief Market Strategist
InvestmentHouse.com
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