Premarket: Apple is green

apple premarket green 5-23-22From the Wall Street Journal’s "Stock Futures Edge Up After Nearing Bear Market" posted early Monday:

U.S. stock futures inched up, putting the S&P 500 on track to edge away from bear-market territory after flirting with such levels in a volatile trading session Friday...

Stocks have slid in recent weeks as investors debated how aggressively the Federal Reserve will raise interest rates to tame elevated inflation. Price pressures have eroded some corporate earnings, but money managers also worry that tightening financial conditions too much risks weighing on economic growth.

Inflation concerns were exacerbated in recent months as China implemented lockdowns to contain the spread of Covid-19, adding strain to supply chains. Russia’s war against Ukraine has also caused European countries to shift away from Moscow’s oil and gas, adding to prices.

“This year, we’re dealing with several issues, which in and of themselves would ordinarily be the top story in any given year,” said Hugh Gimber, a global markets strategist at J.P. Morgan Asset Management. “Yet markets are having to deal with them all at the same time.” This has lent to heightened volatility, he said.

Charts: Yahoo!Finance sees a commodity-channel-index pattern. Max pain is at $145 with a call mountain at $165 and a put peak at $135.

apple premarket green 5-23-22


  1. Greg Lippert said:
    Isn’t it obvious this starts with the obscene oil costs and the gouging of the world by these companies (they are all recording record profits). Why is nobody looking into that? Lobbyists? Follow the $$$.

    The increase in energy leads to everything being more expensive to produce and ship. Its a base of the pyramid, yet gov’t just lets it happen.

    Seems to me this is all an artificial shortage, I don’t see supply demand issues at gas stations, just obscenely higher prices. If we were in a supply crisis, wouldn’t we see lack of supply?

    May 23, 2022
  2. Finished strong, up 4% at close, well ahead of oft compared tech shares like MSFT (3%), GOOG (2%). Many banks did even better ~5%. Interesting & definitely different start to this trading week.

    May 23, 2022

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