Premarket: Apple is green

apple premarket green 11-8-22From CNBC's "Stock futures nudge higher as Wall Street awaits U.S. midterm elections" posted early Tuesday:

Stock futures were slighter higher Tuesday morning evening following a winning day for markets as investors looked ahead to U.S. midterm elections on Tuesday...

Investors are awaiting Tuesday’s midterm election results. They will determine which party controls Congress and steer future policy and spending.

Any market reaction will likely hinge on whether Republicans take back the House of Representatives, the Senate or both.

“The idea that [Republicans are] going to take back the house is pretty much baked into the market,” said Lori Calvasina, RBC Capital Markets on CNBC’s “Fast Money” on Monday. “I’m not saying it won’t be a good thing, that we won’t have a few days of feeling good or that it won’t provide some stability, but I think for a big kicker in the S&P they need to take back the Senate as well.”

Wall Street will also closely watch Thursday’s consumer price index report for the latest data on how much the Federal Reserve’s interest rate hikes have tamed high inflation. This reading could also signal the central bank’s path forward – another hotter-than-anticipated report could embolden the Fed to raise rates aggressively in December.

Charts: Yahoo!Finance sees a bearish price-crosses-moving-average pattern. Max pain moves down $2 to $142 with the same call mountain at $150 and a new towering put peak at $125 (up $5).

apple premarket green 11-8-22

5 Comments

  1. Michael Goldfeder said:
    Everyone go out and vote as it’s important to participate. I avoid addressing politics, religion, and sexual issues as those are better served at home. That being said, I truly appreciate everyone’s views on this platform and encourage the robust and civil debate to continue in the respective manner it deserves from all subscribers.

    Long Apple!

    1
    November 8, 2022
  2. Bart Yee said:
    Please vote as soon as you are able. I’m quite proud of California’s initiative to get voting materials, practice ballots and mail in ballots out about 8 weeks prior to Election Day. My wife and I reviewed all the offices, ballot proposals, and propositions two weekends ago, filled out our mail-in ballots separately, and dropped them into a secure drop box 1.5 miles from home. Could have just as easily dropped into the mail or at an early or Election Day polling place. Gives every registered Californian an opportunity to vote at their convenience, not just on a weekday and be rushed or wait in lines, especially with rain today.

    Wishing everyone a safe and effective use of your rights to vote.

    1
    November 8, 2022

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