Premarket: Apple is green

From TheStreet’s “Dow Futures Higher As Markets Remain Focused on Vaccine Rollout, Stimulus Talks” posted early Tuesday:

Wall Street futures bumped higher Tuesday, while the dollar remained under pressure in foreign exchange markets, as markets remained focused on the consistent themes of accelerating coronavirus cases and hopes of near-term stimulus from Washington.

U.S. coronavirus cases are now rising at more than 300,000 per day, with hospitalizations rising to a record high 109,000 and the seven-day average of fatalities holding at around 2,400, placing it as far and away the deadliest country in the world in terms of the pandemic.

Yet even with weekly jobless claims rising, unemployment support set to expire on December 26 and officials in the nation’s largest cities, including New York, mulling tighter lockdown restrictions heading into the Christmas holiday, lawmakers continue to haggle over the details of a coronavirus relief bill that many investors see as absolutely essential for the economy to bridge the gap between now and the broader rollout of the Pfizer vaccine.

The Federal Reserve, which has also played a crucial role in supporting financial markets through the worst of the pandemic, kicks-off its two-day meeting in Washington this morning with investors anticipating a tighter focus on the central bank’s bond buying program, which could be increased as a stop-gap measure to the recalcitrant Congress.

All that said, stock futures are looking solid this morning, with contracts tied to the Dow Jones Industrial Average indicating a 175 point opening bell gain and those linked to the S&P 500 priced for a 22 point bump to the upside. Nasdaq futures are indicating a gain of around 60 points.

My take: Apple was green in the premarket yesterday too. Just saying.

3 Comments

  1. Jerry Doyle said:
    “Nikki Asia” is reporting this morning a tentative full-year forecast that Apple shared with its suppliers suggesting it plans to build up to 230 million iPhones in 2021, including both old and new models, the people said. This would mark a 20% rise from 2019, though the target will be regularly reviewed and revised in response to any changes in consumer demand, they added. The Pro models are strong as is the 12, but the mini appears somewhat “sluggish.”

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    December 15, 2020
  2. David Emery said:
    Nice pop this morning. AAPL up $4.66 at 10:00.

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    December 15, 2020
  3. David Emery said:
    Between Rod Hall’s idiocy, and the Nikkei report, it seems the Market has voted. Up $5.50 at 3:00 this afternoon. (We’ll see what happens in the next hour.)

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    December 15, 2020

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