Market Alert - Pre-Market

Futures vs FV: SP -4.18; DJ -43.60; NADSAQ -14.85

Futures sluggish all morning, trading in a defined rolling range, currently at the bottom of the range, indeed breaking below the range as the bell approaches. Not an interest in bids early on, but as we often note, in an uptrend a weaker open is not bad.

Trade: On the front burner again as the US and China 'trade' $16B in increased tariffs in another tit for tat.


Earnings beats: PLCE; WSM; LB; SNPS

Misses: BABA (BL)

In line: HRL


Jobless claims at multi decade lows again. Ho-hum.


Iran: Its 'new' fighter plane is actually a 1970's era US plane. Iran leaps into the 21st century.


Trump: market will crash, people will be poor if I am impeached, he says.


OTHER MARKETS
Bonds: 2.817% vs 2.821%

EUR/USD: 1.1563 vs 1.1568

USD/JPY: 110.94 vs 110.75

Oil: 67.61, -0.25

Gold; 1197.60, -6.20


SP400, RUTX still at highs, SP500 and NASDAQ are bumping highs. What is the impetus to send them higher? Rotation is likely the answer and we will see if this soft open allows those stocks that have tested the past 2 days to resume the moves.

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Jon Johnson, Chief Market Strategist
InvestmentHouse.com

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