Market Alert - Pre-Market

Futures vs FV: SP +8.82; DJ +74.30; NASDAQ +28.58

After the Turkey shoot stocks are bouncing as the lira posts a dead cat bounce. Markets around the globe breathe a relief sigh. US futures are up though off their pre-market highs, indeed, trending lower toward the open.

TSLA: Files an 8-k finally as the board sets up a committee to consider Musk's proposal. Whatever. More he said, she said. Company will go about its business as will Musk in the near term.


Bullish investors: Overweight US stocks +19% in the last quarter, the highest since 1/2015.


Import prices, July: Flat. Agriculture -5.3%, soybeans -14.1%


Earnings beats: HD crushes results, boosting Dow; TPR; AAP

Misses: BRI (TL); VIPS (China online retail)


Turkey: Says it will boycott iPhone and US electronics. Okay, they are all made in Asia anyway . . .


OTHER MARKETS
Bonds: 2.882% vs 2.875%

EUR/USD: 1.1386 vs 1.1396

USD/JPY: 110.851 vs 110.82

Oil: 68.18, +1.03

Gold: 1203.00, +4.10


Stocks are set to rebound off the lethargy, but the pre-market action is a gap higher early then eroding the gains since. Have to see how the early gaps hold as the market tries the opposite from the recent lower opens.
______________________________________
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