Premarket: Apple was green, turned red

apple premarket green 7-13-22From the Wall Street Journal’s "Stock Futures Rise Ahead of Inflation Data" posted early Wednesday:

Investors are laser-focused on U.S. inflation data for June, due to be released at 8:30 a.m. ET. The fastest pace of consumer-price growth in four decades has upended financial markets this year by pushing the Federal Reserve to raise interest rates at a rapid clip.

The end of the central bank’s pandemic-era stimulus policies has dragged on the stock market, boosted yields on government and corporate bonds and sent the dollar higher. More recently, the Fed’s drive to tighten monetary policy has raised concerns of a looming recession.

“The inflation data look close to a peak in most of the major economies,” said Paul O’Connor, head of multiasset at Janus Henderson Investors. “But I think the central banks are going to want to see much more than that before they give the all clear.”

The consumer-price index is expected to have increased 8.8% in June from the same month last year, according to economists surveyed by The Wall Street Journal. That would mark an acceleration from the 8.6% recorded in May. Core inflation, which strips out volatile food and energy prices, is expected to slow to 5.7% from May’s 6% rate.

Charts: Yahoo!Finance sees a bullish fast-stochastic pattern. Max pain slips to $144 with a call mountain at $145 and a put peak at $135.

apple premarket green 7-13-22

UPDATE: CPI Report Live Updates: U.S. Inflation Reached 9.1% in June

4 Comments

  1. I trust Apple will maintain a staunch position on Privacy in regards to Period Tracking apps such as Flo (#1), Clue, and Ovia Fertility. The White House just warned women in states eliminating the right to abortion about the use of these apps. WH suspects states may attempt to coerce the app developers to reveal pregnancies. I don’t want to wade into the politics of these states but rather assess Apple’s exposure in the matter. Health apps & devices such as Apple Watch depend on daily health metric tracking features. Apple insists they comply with all laws but this issue may cross a red line, so to speak. On App Store the App Privacy details for Flo indicate no privacy whatsoever to me.
    It is complete theater of the absurd that a women might be persecuted, er prosecuted for traveling to New Jersey to get health care unavailable in her home state, partially on the basis of a period tracking app. Apple and/or the app developers may one day be sued by such a victim of injustice. Apple’s legal team may chose to stand back and see what occurs next or it may pro-actively establish new App Store policies regarding period tracking apps & privacy. History suggests the latter.

    1
    July 13, 2022

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