Premarket: Apple is green

apple premarket green 7-21-21From the Wall Street Journal’s “Stock Futures Point to Dow Extending Rebound” posted early Wednesday:

Stock futures edged higher Wednesday, suggesting major indexes will extend their rebound following a volatile stretch of trading sparked by worries about the spread of coronavirus…

Investors are putting concerns about the economic effects of the Delta variant to one side, though markets are expected to remain jittery heading into the peak summer vacation period. A banner start to the corporate earnings season among the biggest U.S. companies is helping buoy sentiment. Many money managers also see few other places to deploy cash with yields on government and corporate bonds trading at depressed levels.

 “The market is facing a genuine test: whether the link between case rises and hospitalizations is broken,” said Peter van der Welle, a multiasset strategist at Robeco. Nonetheless, Mr. van der Welle expects a second leg of the reopening trade—in which bond yields, economically sensitive stocks and commodities all rose—to get under way once there is more clarity about the Delta variant.

My take: Green without much conviction.

3 Comments

  1. Foxconn’s largest iPhone factory is out near Zhengzhou Xinzheng International Airport, away from the flooding. Some workers may have a tough time getting to work but that should be the extent of flooding impact, for now. Suppliers to that plant are all over the map. Right about now I suspect they would begin assembling and warehousing iPhone XIII for release Sept/Oct.

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    July 21, 2021
  2. Bart Yee said:
    PED, I may suggest a new premarket condition, anything +/- 0.25, is just AAPL background noise / chatter and AAPL floating essentially in neutral.

    Whether there’s a relevant apple picture to reflect that isn’t clear. A bobbing apple in water?

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    July 21, 2021

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