Premarket: Apple is red

apple premarket red 6-22-22From the Wall Street Journal’s “Stock Futures, Oil Drop After Rally” posted early Wednesday:

U.S. stock futures fell, oil prices dropped and bond yields ticked lower after major indexes rallied to start the trading week, with recent volatility in markets showing few signs of abating…

Stocks have seen sharp moves in recent weeks following aggressive interest-rate increases from the Federal Reserve, with more expected, as central banking officials seek to put a cap on inflation. Investors have scrambled to unload riskier assets amid growing fears that quick tightening of financial conditions will plunge the U.S. economy into a recession. The S&P 500 is on track for its worst first half of the year in decades, according to Deutsche Bank research analysts…

The Cboe Volatility Index—Wall Street’s so-called fear gauge, also known as the VIX—rose 3.6% to 31.29.

Investors sought assets viewed as safer to hold Wednesday, such as the U.S. dollar and U.S. government debt. The WSJ Dollar Index, which measures the dollar against a basket of 16 currencies, added 0.2%.

“There is certainly an anxiousness in markets and that’s playing through in volatility,” said Edward Park, chief investment officer at U.K. investment firm Brooks Macdonald, adding that investors are likely awaiting fresh inflation data or a central bank meeting to assess their future trades.

Charts: Yahoo!Finance sees a bearish short-term KST pattern. Max pain stays at $137 with a call mountain at $172.50 and a put peak at $125.

apple premarket red 6-22-22

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