Futures vs FV: SP +4.15; DJ -27.88; NASDAQ +12.48
BA continues to weigh on DJ30 (BA -3% in pre-market) while the other indices post modest gains. Flat heading into the morning data, rebounding on relatively tame inflation.
BA lower as more airlines close their airspace to the plane even as the FAA says it is totally airworthy.
Brexit: What looked to be a deal last night that jumped the pound is pooh-poohed by the UK AG and now the pound is down. Not taking a pounding, but down.
CPI, Feb: 0.2 vs 0.2 exp vs 0.0 prior. +1.5% year/year, the lowest since 9/2016
Core: 0.1 vs 0.2 exp vs 0.2 prior. 2.1% year/year
Down: prescription drugs, autos, medical care.
Up: Airline tickets. Ironic.
NFIB Small Business Confidence, Feb: 101.7 vs 101.2
Beats: DKS; SFIX
Misses: ADT (TL, BL)
Upgrades: LLY
Downgrades: KO; MNST
OTHER MARKETS
Bonds: 2.632% vs 2.643% 10 year
EUR/USD: 1.128 vs 1.1243
USD/JPY: 111.14 vs 111.21
Oil: 57.25, +0.46
Gold: 1298.30, +0.72
Trade issues are quiet, earnings are few, Brexit still a mess (how shocking), Trump's budget is not going to fly in the House (shocking as well), Musk claims SEC is unconstitutional (also a shock) -- more mundane issues.
That allows the market to make its 50 day MA bounce. The start is iffy, but Monday was a big day so a bit of wobble early today is no big deal. Will see if the bids return. Would love to get a bit of a pause in NVDA to use to buy, but it is going to open a bit higher. Not blasting off, however, and that is not bad. TSLA is testing back thanks I suppose in part to Musk's continued open mouth policy. Perhaps that will provide an entry.
______________________________________
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
No comments:
Post a Comment