Premarket: Apple is red/green/red

apple premarket red 5-4From CNN: “Global stocks and US futures fall as US-China tensions return“…

Global markets and US stock futures dropped Monday after the White House renewed efforts to blame China for the coronavirus pandemic and President Donald Trump warned the disease could kill up to 90,000 Americans…

The declines built on losses on Wall Street late last week, when Trump hinted that the United States could punish China with new tariffs because of the coronavirus outbreak…

The pandemic is already plunging the global economy into its deepest slump since the Great Depression of the 1930s, according to the International Monetary Fund, which said last month that there was a risk of the recession extending into 2021 if policymakers fail to coordinate a global response to the virus.

“President Trump needs to put some hard facts on the table, or risk sending the world into an L-shaped, trade-war driven recession on top of a recession, that even bottomless monetary and fiscal responses cannot soften,” wrote Jeffrey Halley, senior market analyst for Asia Pacific at Oanda.

My take: You might have thought a businessman-president would know how to talk to the markets.

9 Comments

  1. Gregg Thurman said:
    Trump’s style is to bully to get what he wants. This is not the time to be bullying anyone.

    3
    May 4, 2020
  2. Romeo A Esparrago Jr said:
    ~20mins ago from Apple PR:
    “ PRESS RELEASE
    May 4, 2020
    Apple updates 13-inch MacBook Pro with Magic Keyboard, double the storage, and faster performance “

    Not sure if this news will alter the macro things affecting today’s share price but Apple consistently shows its anti -fragile ness by continuing its product releases.

    May the Fourth be with y’all!

    2
    May 4, 2020
  3. Gregg Thurman said:
    AAPL opened down pennies, but then has gone up pennis. It’s early in the session, but I’m not seeing direction either way. Sitting tight on my cash.

    1
    May 4, 2020
  4. T R said:
    Apple Inc. aapl is planning a four-part bond deal on Monday, according to a regulatory filing.

    The iPhone maker is planning to issue notes that mature in 2023, 2025, 2030 and 2050, the filing shows. Goldman Sachs, BofA Securities, J.P. Morgan and Morgan Stanley are underwriters on the deal, proceeds of which will be used for general corporate purposes, including share buybacks and dividends, for working capital, capex, acquisitions and to repay debt.

    The filing did not specify how much the company is aiming to raise.

    The company has regularly tapped the bond market to fund its shareholder rewards program. Apple shares were up 0.2% premarket and have fallen 1.6% in the year to date, outperforming the Dow Jones Industrial Average djia, which has fallen 17% and the S&P 500 spx, which has fallen 12%.

    0
    May 4, 2020
    • John Konopka said:
      Good time to borrow. Effectively getting negative rates probably.

      0
      May 4, 2020
  5. Fred Stein said:
    Just bought the new MacBook pro.

    Bet there’s a lot of folks who are also long overdue to upgrade.

    2
    May 4, 2020

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