Dow Jones Futures: Apple Earnings Wave, Fed Rate Hike Looms; What to do now – Kashmir Dispatch
Dow Jones futures open Sunday evening, along with S&P 500 futures and Nasdaq futures. The stock market rally had strong gains last week, breaking through some key resistance. The technicians backed off on Friday Snap (SNAP) and other bad returns.
Apple (APL), Microsoft (MSFT), Google Parents letters (Google), Amazon.com (AMZN) and Facebook Parents Meta platforms (Meta) headlines a big week for earnings.
META stock and Google sold off sharply on Friday due to the Snap results and lack of guidance. Microsoft stock fell back to its 50-day line. Amazon pared big weekly gains. But Apple stock is one of five near its 200-day line, and it doesn’t have an obvious buy point in sight.
Meanwhile, the Federal Reserve will meet, with another big 75 basis point rate hike likely coming on Wednesday. Guidance for future moves will be key. Investors are starting to discount a September rate hike, with limited tightening thereafter. This is in large part why the economy slows down rapidly, perhaps even falling into recession. A recession, coupled with even higher inflation, is not an ideal combination for corporate profits.
A central bank recession may already be here; What that means for the S&P 500
While the recent move in major indices is promising, investors should still be cautious when adding exposure.
Many leading stocks did not flash buy signals. Meanwhile, several promising stocks saw sudden selling, including Dollar Tree (DLTR), Lantheus (LNTH), Good health (AGL) and Li Auto (LI), forcing difficult decisions for investors.
LNTH stock is active IBD Leaderboard, Aquilan left on Friday. Li Auto Stock and Ajilon are available IBD 50. MSFT shares and Google are operating IBD long-term leaders.
A video embedded in the article reviewed important market action, while also analyzing it Cross Country Healthcare (CCRN), Li Auto and DLTR stock.
Dow Jones Futures Today
Dow Jones futures open Sunday at 6 PM ET, along with S&P 500 …….