Premarket: Apple is green

From the Wall Street Journal’s "Stock Futures Tick Up Ahead of Earnings" posted early Monday.

U.S. stock futures edged up, starting the week on a positive note ahead of a slew of earnings reports that are expected to provide some insight into the impact of higher inflation on companies and consumers. ..

Stocks have swayed in recent days, buffeted by shifting views on central bank policy. Last Friday’s better-than-expected jobs reportdivided investors and analysts. Some raised concerns that the Federal Reserve could continue raising interest rates aggressively, while others questioned whether the U.S. economy could really be in recession.

“Markets are still digesting the payrolls report from Friday. When you see what’s happening in the labor market, this doesn’t look like a recession in the sort of broad sense,” said Kiran Ganesh, a multiasset strategist at UBS. “Investors seem to be in the mood to listen to the good news.”

Charts: Yahoo!Finance sees a bearish relative-strength-index (RSI) pattern. Max pain starts the week underwater at $162.50 with a call mountain at $170 and a put peak at $150.

3 Comments

  1. Bart Yee said:
    Well, AAPL just punched through $167.50 level and testing area we haven’t been since April 21, 2022. Will be interesting to see if can hold these gains through the day.

    NVDA took a big hit today though.

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    August 8, 2022
  2. Michael Goldfeder said:
    It’s dividend record day too.

    0
    August 8, 2022

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