Premarket: Apple is green

From the Wall Street Journal’s "Stock Futures Edge Up Ahead of Jobs Data" posted early Thursday:

U.S. stock futures ticked higher as investors awaited an update on the number of Americans applying for unemployment benefits...

Global markets have been volatile this week amid mixed economic data. On Wednesday, minutes from the Federal Reserve’s June policy meeting indicated that the central bank remains focused on the risk of inflation, which is at a 40-year high.

Investors moved to price in a larger interest-rate increase at the Fed’s July meeting after the release of the minutes. Futures bets show traders assign a roughly 96% probability that the Fed will deliver a 0.75 percentage-point rate hike at its meeting later this month, according to CME Group. That is up from 84% a day ago.

Attention will now turn to U.S. labor market data, which traders will be watching for clues on how rising interest rates and high inflation are impacting hiring. Data Thursday are expected to show the number of new applications for U.S. unemployment benefits edged slightly lower in the week ended July 2 to 230,000.

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

apple premarket green 7-7-22

4 Comments

  1. Steven Philips said:
    “Slowly I turned! Step by step! Inch by inch! – Niagara Falls!”
    Then solidly mid 140’s. Then 150’s. I’ll be extremely happy if AAPL is solidly 160’s by EOY.
    But maybe, just maybe, Jerry’s predictions will come true. 🙂
    Hope does spring eternal!

    0
    July 7, 2022

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