Market Alert - Pre-Market

Futures vs FV: SP -3.84; DJ -97.90; NADSAQ +5.64

Trade takes the center of debate again as Trump awakens to China currency manipulation and Trump also hits the Fed for hiking rates and 'undoing' the 'hard work' the administration is taking care of on trade, etc.

The dollar is lower, interest rates a bit higher, gold up.

It is clear China is manipulating its currency, the only thing it can really do in response to the tariffs. Okay, so Trump says he is ready to go on the full $500B in China goods.

I had to change it from CNBC because that new blonde anchor is rabidly anti-Trump -- like watching MSNBC -- calling him 'crazy', etc. Even Bloomberg looked to be rational compared to that. Other CNBC guests, even very liberal Obama servers, had to counter against the 'news' anchor. Whatever.


OTHER MARKETS
Bonds: 2.864% vs 2.838%

EUR/USD: 1.1712 vs 1.1643

USD/JPY: 111.80 vs 112.40

Oil: 69.99, +0.53

Gold: 1230.50, +6.50


It is expiration Friday and that may provide some more volatility the President does not. We liked the rise in the small and midcaps and will see if all areas hold up. Futures are coming back nicely after the trade and Fed bashing concerns.

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Jon Johnson, Chief Market Strategist
InvestmentHouse.com

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