Premarket: Apple is red

From the Wall Street Journal’s "Stock Futures Edge Down to Start Second Half" posted early Friday:

U.S. stock futures drifted lower at the start of the second half of the year, with investors bracing for more volatility amid heightened inflation and expected interest-rate increases...

Investors remain focused on persistent inflation that has forced central banks to reverse years of easy-money policies and accelerate interest-rate increases. That change in position has bolstered fears of slowing growth that could lead to a recession. Central bank officials globally have signaled that they are more concerned about taming inflation than an economic slowdown.

The Institute for Supply Management’s report on U.S. factories is expected to show that manufacturing activity decelerated in June, when figures are released at 10 a.m. ET. Data released this week showed U.S. household spending slowed in May.

“We can see the foundations are being set for a recession,” said Seema Shah, chief strategist at Principal Global Investors. She expects to see a recession at the start of next year if the labor market, which she said is still strong, weakens.

Charts: Yahoo!Finance sees a bullish short-term KST pattern. Max pain inches up to $138 with a call mountain at $145.

2 Comments

  1. John Konopka said:
    Monday being a holiday I don’t expect much change today. Volume looks light.

    1
    July 1, 2022

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