Premarket: Apple is green

From the Wall Street Journal’s “Stock Futures Waver Ahead of Earnings, Data" posted early Wednesday:

U.S. stock futures wobbled Wednesday ahead of more earnings reports and data on the services sector that would provide fresh insights into the pace of the economic recovery...

Stocks have ground higher this week amid strong earnings reports and signs that the economic rebound remains under way, albeit at a slower pace than in recent months. But the spread of the Delta variant of Covid-19 and a slowdown in the rate of vaccinations is prompting some concern that authorities may reimpose or tighten restrictions on social activity and travel.

“We’re entering a stage where growth is still strong, but not as strong as the initial stage of the recovery,” said Sebastian Mackay, multiasset fund manager at Invesco. “The implications for markets would be if earnings fail to sustain the very strong performance they have been reporting. Are we entering a stage of the cycle where earnings are still reasonably robust, but the recovery is difficult to sustain?”

My take: Apple's on a roll.

6 Comments

  1. Gregg Thurman said:
    Just following my historical daily print chart, I see AAPL establishing a new all-time high next week, followed 2 weeks later by a sell off of about 6%.

    1
    August 4, 2021

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