Futures vs FV: SP +12.41; DJ +145.15; NASDAQ _38.85
Futures are at session highs and rallying toward the open. Building on the breakouts to new highs to end last week -- not a bad thing at all.
NAFTA: Mexico announces talks with the US have concluded and that an announcement is coming. Everyone is assuming it is positive though you would think Trump would have a hard time not jumping the gun with a tweet. Part of the deal I suppose, letting Mexico break the news. Good relationship building.
Other trade: Al Arian says 60% chance beneficial result of trade 'negotiations' with China and others.
TSLA: Musk says will remain public. Tons of words wasted on this story.
PFE: Positive results from its Tafamidis drug.
Other news? Not much at all. Same issues are still ongoing, e.g. President's legal issues, trumped up or otherwise, bond yields, wars, etc.
OTHER MARKETS
Bonds: 2.835% vs 2.813%
EUR/USD: 1.1634 vs 1.1621
USD/JPY: 111.02 vs 111.22
Oil: 68.76, +0.04
Gold: 1212.10, -1.20
Light volume expected on the week given the last week ahead of Labor Day. London bank holiday and that will detract from volume as well. Not good validation, but then again, if there are no sellers it does not matter what the volume is, at least until something serious comes up.
Watching GOOG, AAPL and others to see how they hold their early breaks.
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Jon Johnson, Chief Market Strategist
InvestmentHouse.com
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