Premarket: Apple is green

From CNBC’s “Dow futures point to a 300 point gain at the open as closely watched jobs report looms” posted early Friday:

U.S. stock futures were sharply higher early Friday, with investors awaiting a closely watched U.S. monthly jobs report.

Dow Jones Industrial Average futures implied an opening a gain of about 300 points at the open. S&P 500 and Nasdaq-100 futures also pointed to solid early gains.

On Thursday, the S&P 500 and Nasdaq Composite each snapped a four-day winning streak, while the Dow eked out a minuscule gain. The Nasdaq-100 index briefly touched a record high before rolling over to close more than 0.7% lower…

“The economy and the stock market have generally moved in the same direction over time, though rarely in lock-step,” said Willie Delwiche, investment strategist at Baird, in a note. “The gulf between current headlines for Wall Street (best 50-day rally ever for the S&P 500) and Main Street (one-in-four American workers have now filed for jobless benefits) seems more extraordinary than normal.”

My take: I had to check. Over those 50 record-breaking days, Apple beat the SPY.

apple premarket green 6-5

One Comment

  1. Jerry Doyle said:
    I truly and deeply am convince of one principle: never take on a fight when the central banks of the world turn on all their monetary spigots.

    June 5, 2020

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