Premarket: Apple is green

apple premarket green 7-22-21From the Wall Street Journal’s “Stock Futures Tick Up Ahead of Jobless Claims, Housing Data” posted early Thursday:

U.S. stock futures edged higher Thursday ahead of fresh data that will offer insights into the labor market’s recovery and the pace of sales in the red-hot housing market… Nasdaq-100 futures gained 0.2%, suggesting gains for large technology stocks at the opening bell.

Stocks have resumed their monthslong rally, erasing most of their losses from the sharp drop on Monday when the spread of the Delta variant raised alarms about renewed lockdown measures. Investors have since come back to equities, sending the major indexes less than 1% below their all-time highs. The focus is now on the corporate earnings season, with many companies reporting results that have exceeded Wall Street’s expectations.

“The earnings results have continued to be strong and guidance is showing that the delta variant isn’t impacting the recovery, so far at least,” said Esty Dwek, head of global market strategy at Natixis Investment Managers. “That is giving confidence to the market that the recovery can continue.”

My take: Delta be damned. Four more trading days before Q3 results.

One Comment

  1. Romeo A Esparrago Jr said:
    For those who weren’t sure about stocks last year and didn’t pay attention to the dips caused by COVID-19 fears & the buy opportunity it represented, followed by the rebounds, I certainly hope they’re watching closely for dips & opportunity buying this year.

    We certainly took advantage, not just because of last year but because of faith. Faith in Apple. Prior to Covid, it was Tariffs. Rebound. And so on & so forth. Like Gregg said earlier, the market behavior & Apple rebounds but ultimately upward trajectory is soooo boringly predictable nowadaze. LOL

    3
    July 22, 2021

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