Premarket: Apple is green

apple premarket green 6-23-22From the Wall Street Journal’s “Stock Futures Inch Higher Ahead of Powell Testimony” posted early Thursday:

U.S. stock futures edged higher while oil prices slipped ahead of a second day of testimony from Federal Reserve Chairman Jerome Powell after he warned that rapidly rising interest rates threatened a recession….

Investors have been shedding riskier assets in recent days, prompted by growing concerns that efforts by the Federal Reserve to bring inflation under control will take a toll on the economy. Investors are growing less optimistic that the Fed can engineer a so-called soft landing, whereby interest rates rise to curb inflation without pushing the economy into a recession.

Mr. Powell acknowledged those risks in testimony to lawmakers Wednesday, saying that a recession was possible and that a soft landing for the economy would be “very challenging.” Mr. Powell is set to continue that testimony Thursday in front of a second group of lawmakers….

“Inflation is at the center of all this but there is also fading growth and interest rates are going up. All of that together is a horrible cocktail and you just need to step aside and wait for that to work itself out,” said Hani Redha, a portfolio manager at PineBridge Investments.

Charts: Yahoo!Finance sees a bearish commodity-channel-index pattern. Max pain stays at $137 with a call mountain at $140 and a put peak at $130.

apple premarket green 6-23-22

3 Comments

  1. On June 21 Apple was granted US Patent 11,366,523 for a MacBook with a completely enclosed bottom incorporating a dielectric surface material. This means no openings for coffee or other liquids to seep into. The keyboard sits on top of the sealed case. Wireless charging can be done too. They must have the M2 running without much heat. The M1 MacBook a client provides me runs cool.

    1
    June 23, 2022
    • Besides keeping out moisture, a big cost/convenience advantage may be the ease of installing/replacing different keyboards for different languages or if a defective keyboard requires replacement. Butterflies always come back to the same place.

      1
      June 23, 2022

Leave a Reply