Market Alert - Pre-Market

Futures vs FV: SP -4.8; DJ -36.44; NASD -11.59

Futures were basically flat as the morning data hit. After the data they have eroded but not cataclysmically. NASDAQ was hanging in positive but gave that up. DJ30 is weighed down by NKE and JNJ.

Trade: Reportedly 6 memoranda are being prepared covering a wide range of issues including technology transfer and IP theft. China reportedly offered to buy another $30B of US 'stuff' -- I still think ultimately china balks on the IP and tech issues and falls back on claiming buying more of our goods is sufficient.

Australia: China has 'indefinitely' banned imports of Australian coal. Oh good, another trade war and of course China is in the middle of it.


Durable Goods, Dec prelim: 1.2 vs 1.3 exp vs 1.0 prior (from 0.8)

Ex-Transp: 0.1 vs 0.2 exp vs -0.2 prior (from -0.4)

Capital investment: -0.7 vs -1.0 prior (from -0.6). Third month of negative numbers and lowest since late 2015


Philly Fed: -4.1 vs +12 exp vs 17.0 January

Weakest read since 5/16 and biggest decline since 2011

New orders -2.4 vs 26+ Jan

Employment remained positive, but it is lagging.


Earnings misses: HRL (TL); WEN (TL); DPZ (TL, BL)


JNJ: Received subpoenas from DOJ and SEC re talc.

NKE: Shares lower after one of his Nike shoes split during a game and injured the player.





OTHER MARKETS
Bonds: 2.684% vs 2.641%

EUR/USD: 1.136 VS 1.1337

USD/JPY: 110.63 VS 110.82

Oil: 56.98, -0.18

Gold: 1338.60, -9.30


______________________________________
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