Premarket: Apple is green

apple premarket green 7-29From wsj.com’s “U.S. Stock Futures Tick Up Ahead of Fed Decision” posted early Wednesday:

U.S. stock futures edged higher Wednesday as investors awaited cues on the Federal Reserve’s next steps to bolster the economy, a flurry of earnings at major companies, and a congressional grilling of the biggest technology companies’ leaders…

The Fed isn’t expected to roll out new stimulus measures when it wraps up its two-day policy meeting, but policy makers are debating how to provide more support to the economy once the outlook becomes clearer. Officials have warned that the economy faces a deeper downturn if the country doesn’t take more effective action to slow coronavirus…

Investors will also follow the appearance of the chief executives of Amazon.com,Apple, Facebook and Google before the House Antitrust Subcommittee. The committee is investigating the market dominance of online platforms, which have powered the stock market higher from its March lows.

“This is something extraordinarily significant: how do you want to regulate the tech industry?” said [Samy Chaar, chief economist at Swiss private bank Lombard Odier]. “We won’t have an answer today at the hearings.”

My take: A big week for big tech, antitrust hearings today, quarterly earnings tomorrow. 

One Comment

  1. Romeo A Esparrago Jr said:
    AppleInsider cited a China report that iPhone sales there was up 225% last quarter YOY. Not totally representative of everything Apple of course, but hope that helps the green-ness.

    1
    July 29, 2020

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