Dow 30

Global stocks were fractionally lower in early European trading, closed Asia mixed, while S&P futures were unchanged, as the dollar fell for a second day on concerns ahead of Trump's press conference on Wednesday. Oil rebounded after its Monday plunge, while commodity metals like iron ore rose limit up in Chinese trading. Top overnight stories include Valeant announcing the sale of $2.1 billion in assets to pay down debt; VW managers warned to stay in Germany as U.S. charges near; Yahoo! plans to shrink board, get rid of Marissa Meyer and change its name after Verizon deal.

European, Asian stocks fall and U.S. equity-index futures traded mixed on Monday with fresh memories of the Dow Jones rising to under 1 point of 20,000 on Friday. The dollar has rebounded on fresh geopolitical concerns, while the pound extends its decline from Friday and has slide to 10 week lows on a Sunday interview from Theresa May which suggested a "Hard Brexit" may be in the cards. Oil dropped below $54 a barrel on Iran supply concerns, while gold rose 0.6% to $1,180. 

Submitted by Lance Roberts via RealInvestemntAdvice.com,

The Problem With Forecasts

The Washington Post is very disappointed...

The Dow tried (and failed) 8 times...

So far, Putin has prevented 6 intraday attempts at Dow 20,000

— zerohedge (@zerohedge) January 6, 2017

Here is how Bob Pisani explained it...

In the past we had given Tom Lee of Fundstrat, formerly of JPMorgan, a hard time for his relentless, unforgiving permabullishness, which cost investors massive losses during the 2008 financial crisis, when the S&P500 closed some 40% below his target price of 1,450, but in retrospect had been proven right during this unprecedented monetary- and debt-fuelled rally, which has taken the S&P, and global debt, to never before seen levels (such as the Dow 19,999.63) where valuations are now more absurd than at any time in history.