US Market on 06 Feb 2023. Fall - AMZN, GOOG ? Rise - AAPL?
Will Market today (06 Feb - Mon) continue from where it has left off last Friday ?
In my Friday's post , assumed that both Google and Apple may fall due to weak Q4 2022 earnings.
Only $Alphabet(GOOG)$ fell about -3%.
Strangely, $Apple(AAPL)$ gained approx +$2.44% instead.
The "bigger" surprise of the day was the Non-Farm payroll added 517,000 jobs last month, far more than payroll gain of 188,000 expected; not to mention unemployment rate fell to 3.4%; lowest since 1969. See below details.
US - Non Farm payroll and Unemployment rate
Data released has completely dashed any hope/s that the Fed will halt tinterest hike in the next FOMC meeting slated for 21-22 Mar 2023.
By the time market closed for the week :
All 3 indexes fell on 03 Feb 2023
- DJIA : -0.38% (-127.93 to 33,926.01). Getting dangerously closed to its 20-day & 50-day MA.
- S&P 500 : -1.04% (-43.28 to 4,136.48). Maintaining a healthy gap from all 3 MAs.
- Nasdaq : -1.59% (-193.86 to 12,006.95). Maintaining a healthy gap from all 3 MAs.
3 Indexes' Moving averages on 03 Feb 2023 (Fr9i)
To ReCap FAANG's Q4 2022 Earnings :
- All 3 FAANG stocks' last quarter earnings came in "weaker" than anticipated.
- Both Google and Amazon stock prices fell by -3.29% and -8.43% respectively last Friday.
- Only Apple Inc manage to buck the trend and rose a credible +2.44%.
How Will Market Perform Today - 06 Feb 2023 (Mon) ?
US Pre-market indicators / Bitcoin & Ethereum prices
- Looking at US Pre-market indicators (above diagram) - Red !
- Bitcoin & Ethereum prices for last hour & 24 hours (above diagram) - Green & Green !
- Asia markets (ASX - Red !, Nikkei - Green !, KOPSI - Red !, HSI - Red !)
- EU markets - -(DAX - Red!, FTSE - Red !, CAC - Red !).
From the above pre-market indicators, very likely that US market would continue from where it has left off last Friday
- No mega cap company will be reporting its quarterly earnings today
- No official report is due for release today as well.
- All 3 FAANG stocks' pre-market indicators are all showing up Red !
- Do you think all 3 stocks - Google, Amazon & Apple will fall or fall further today ?
- Do you think the Market will continue to fall today ?
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