Premarket: Apple is red

apple premarket red 1-13-22From the Wall Street Journal’s "Stock Futures Pause Ahead of Jobless Claims, More Inflation Data" posted early Thursday:

U.S. stock futures wavered and bond yields rose ahead of fresh data on inflation and the labor market that may provide some insight into the path ahead for monetary policy...

Stocks largely continued their upward march this week, with investors taking Wednesday’s consumer-price index data in their stride. Inflation reached its highest level since 1982 last month, but was in line with expectations. Markets didn’t react strongly and the S&P 500 closed less than 1.5% off its record high...

Federal Reserve officials are signaling that an interest-rate rise could come as soon as March. The Fed’s James Bullard said Wednesday that four rises were likely in 2022. Governor Lael Brainard is scheduled to speak in front of the Senate Banking Committee at 10 a.m. ET in her nomination hearing to become vice chair and investors are waiting to hear her views on inflation and the economic recovery.

“The main story is the market view on the central bank’s next steps. The market is balancing two things: less support from monetary policy, but overall the underlying economy is good and we think the earnings figures that will start to come out now will be quite strong,” said Luc Filip, head of investments at SYZ Private Banking.

Charts: Yahoo!Finance sees a neutral commodity channel index pattern. Max pain stays at $172.50 with a call mountain at $180. A new put foothill has formed at $155.

apple premarket red 1-13-22

One Comment

  1. Taiwan Semiconductor (TSM) reported record 4th Quarter earnings earlier this morning. TSM’s profits rose 16.4%. This despite COVID-19 interruptions and supply chain issues. Apple is the fab’s largest customer. TSM stock is up 5% in pre-market, about the same as actual trading in Taipei market. This is a preview of an upcoming blockbuster release. Target, a big retailer of Apple products, had excellent holiday sales. I’ve long noticed major supplier/vendor news takes time to seep into analyst’s prognostications.

    2
    January 13, 2022

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