Premarket: Apple is green

From the Wall Street Journal’s “Stock Futures Edge Up Ahead of Big Tech Earnings” posted early Monday:

U.S. stock futures drifted higher Tuesday ahead of earnings from more blue-chip companies and the start of the Federal Reserve’s two-day policy meeting…

A strong start to earnings season among U.S. companies and indications that the economy is rebounding have helped to lift stocks to a series of all-time highs. Still, some investors are cautious, pointing to risks stemming from elevated valuations, the potential for a jump in inflation and the raging epidemic in India.

“We’ve got a big week of tech earnings where valuations are probably a bit more stretched than in other areas,” said Stuart Rumble, investment director at Fidelity International.

Tech stocks have climbed in recent weeks, pushing the Nasdaq Composite Index to a record high on Monday for the first time since February. Mr. Rumble said he favors shares of banks and energy companies, economically-sensitive sectors that stand to benefit when coronavirus restrictions lift.

My take: Apple’s fiscal Q2 earnings drop tomorrow after the markets close. If Apple’s going to move ahead of the report, it’s running out of time.

4 Comments

  1. Gregg Thurman said:
    I chuckle at the way the WSJ regurgitates all the usual doom and gloom potentials: inflation, COVID-19, psoriasis, unemployment, blah, blah, blah, as though they were of real concern beyond tomorrow, and yet ignores the biggest threat of them all: the herd mentality of the market. That mentality reminds me of countless westerns when in the still of the night the herd stampedes for no apparent reason.

    5
    April 27, 2021
  2. Gregg Thurman said:
    It would appear that WS is taking the same cautious approach to earnings that I am. For the last 3 sessions AAPL has traded in a $134/$135 Channel.

    3
    April 27, 2021

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