Reply To: Traders Market Weekly: When Logic Hits You in The Face


S&P futures vs fair value: +35.60. Nasdaq futures vs fair value: +135.00.

The S&P 500 futures are up 35 points and are trading 1.0% above fair value.
The Nasdaq 100 futures are up 135 points and are trading 1.2% above fair value.

A few Chinese stocks are making big moves in premarket action. (JD 37.38, +5.37, +8.7%) jumped almost 9.0% at its best premarket level after CEO Xin Lijun said in a Bloomberg interview that the company is exploring expanding into food delivery. This would put in direct competition with Alibaba (BABA 112.99, +11.54, +11.4%) which is also up big in the premarket on a different piece of news.

Alibaba shares rose nearly 12% at their best level of the morning on news that China’s central bank approved Alibaba-affiliate Ant Group’s application to form a financial holding company which revived hopes of a possible Ant Group initial public offering