From the Wall Street Journal's "Stock Futures Wobble With Dow, S&P 500 at Record Highs" posted early Monday:
Investors are starting the week on a cautious note on concern that therollout of Covid-19 vaccines is facing some hiccups. A string of blue-chip companies are scheduled to report earnings this week, and will offer a view on businesses’ expectations for the pace of economic revival. Money managers are looking to gauge whether stocks’ high valuations are justified after the recent rally took the Dow and S&P 500 to closing records last week.
“After a big move, you get a pause of breath and a bit of a reassessment,” said Caroline Simmons, U.K. chief investment officer at UBS Asset Management. “People are reassessing, waiting for newsflow that might indicate that growth and inflation remain on track.”
My take: Fasten your seatbelts. The next two weeks, starting tomorrow, will be packed with Apple news.
May the Force be with you (and with Apple)!
Volume is typically low again. If the options houses decide to lay low until this quarter’s Apple earnings are out of the way (which would likely be wise if buying momentum starts to build), we may yet see that 40 P/E I’ve been hoping for….