Premarket: Apple is red

From the Wall Street Journal’s “Stock Futures Edge Up Ahead of Tech Earnings” posted early Thursday:

U.S. stock futures ticked higher ahead of earnings from large technology companies and economic data including jobless claims and an updated reading of first-quarter gross domestic product…

Stocks have swung this week, fluctuating between daily gains and losses as investors considered the Federal Reserve’s next monetary tightening moves to combat inflation and how much they could weigh on growth and markets. Minutes released on Wednesday by the Fed showed that policy makers were in agreement for half-percentage point increases in June and July, in line with previous communication.

“To some extent, markets have been reassured that the Fed isn’t going to tighten more aggressively than what is expected. But sentiment in the market remains rather stressed,” said Luc Filip, head of investments at SYZ Private Banking. “There is still a lot of uncertainty about what will happen if inflation stays high.”

Max pain stays at $141 with a call mountain at $150 and put peak at $135.

2 Comments

  1. $144. Another Sucker Rally (refraining from references to levitating dead felines) or not? We made it beyond $149 last Tuesday only to watch it slide to mid 130s, again. $143 on Monday looked like the start of positive movement. In March the share price surged $25 in 2 weeks. There must be a $ trillion sitting on the sidelines or hunkered down in dividend stocks like the Ma Bells, and some utilities. 5% is no match for the 8.5 increase in the CPI as of March, according to the Bureau of Labor Statistics.
    For some reason I cannot stomach going long in OXY, XOM or other dirty shares despite them being up 50 to 120% YTD by stealing the contents of everyone’s wallets and sending 1/2 the proceeds to evil dominions.

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    May 26, 2022

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