Premarket: Apple is red

apple premarket red 10-21-21From the Wall Street Journal’s “Stock Futures Fall Ahead of Earnings, Jobless Data” posted early Thursday:

U.S. stock indexes were poised for muted opening losses as investors awaited another batch of earnings reports and data on the labor market.

Stocks have risen in recent days, after solid earnings helping quell concerns that sent markets lower at the start of fall. Among those worries: A slowdown in China’s economy, supply-chain blockages that have hampered sectors such as manufacturing and inflation pressures that could prompt central banks to withdraw stimulus.

Of the 80 companies on the S&P 500 to have reported through Wednesday, 81% had topped analysts’ earnings forecasts, according to FactSet, better than three-quarters that did so each quarter in 2019.

“We’ve gone through a period of hesitation that’s brought a bit of volatility but I think stocks will keep trending higher,” said Paul Jackson, head of asset allocation research at Invesco. He expects households to keep spending savings accumulated during the pandemic.

My take: Yahoo!Finance sees a bullish Price Crosses Moving Average pattern. Max pain is socked in at $145.

apple premarket red 10-21-21

3 Comments

  1. Romeo A Esparrago Jr said:
    Wonder what caused the noon EDT drop from 149.32 to 147.94 ?

    1
    October 21, 2021
  2. John Konopka said:
    https://apple.news/AYdTtjY3SSgW0z3xW40ELkg 12:09PM

    CFPB orders Apple, Amazon, other tech giants to turn over information about payment products

    This would be my guess.

    I stopped at Target today for a thumb drive. The shelves in the tech area were surprisingly bare.

    0
    October 21, 2021
  3. Possibly related to Google lowering Play Store fees to 15% from Day 1 for all apps. They’re trying to stave off regulatory dogs. Apple still charges 30% for some apps, at least for the 1st 12 months. Major Game platforms/consoles are sticking to 30%.
    Share price drop could also have been a butterfly flapping its wings in Toledo.

    2
    October 21, 2021

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