US Market on 03 Feb 2023 (Fri). $AAPL & $GOOG To Fall ? $META ??
A day after the 0.25% interest hike, words spoken by Mr Powell were still reverberating "positively" across the US market.
Market continued to rally especially for both S&P 500 and Nasdaq. Strangely enough Dow Jones slipped a little.
By the time the bell signalled at of trading day :
- DJIA : -0.11% (-39.02 to 34,053.94).
- S&P 500 : +1.47% (+60.55 to 4,179.76).
- Nasdaq : +3.25% (+384.50 to 12,200.82). Conquered the 11,999 barrier.
Despite the slight dipped, the Dow Jones indexed is still healthy above its 200-day, 50-day and 5-day Moving Averages. As are both S&P 500 and Nasdaq.
Is this really the turnaround that all investors are hoping for ?
Is it time to re-enter the market again ?
Stop & Wait !!
Quarterly earning reports by the FAANG stocks
Both $Apple(AAPL)$ and $Alphabet(GOOG)$ reported their Quartelry earnings after the market closed.
It wasn't a pretty sight. Both Tech giants have missed the expectations.
Actually to me, $Meta Platforms, Inc.(META)$ performance was a mixed bag but the market liked the idea of a $40 Billion share buyback and so it rallied.
Going into the first Fri of Feb 2023, will the market end on a higher note than ytd ?
Not so certain of it; not unless there are other companies Quarterly Earnings report that's going to distract the market momentarily.
A check on the quarterly earnings calendar did not yield any Mega Cap companies reporting their earnings today.
Is it likely that market might take a breather ?
Not unless the Jan Non-farm payrolls, due out in the morning by the US Bureau of Labor Statistics paints a different picture that pleases the market ?
US pre-mkt indicator / Bitcoin & Ethereum prices
- Looking at US Pre-market indicators (above diagram) - Red !
- Bitcoin & Ethereum prices for last hour & 24 hours (above diagram) - Red & Red!
- Asia markets (ASX - Green !, Nikkei - Green !, KOPSI - Green !, HSI - Red !) - All in full force to celebrate Chinese New Year perhaps ? LOL !!
- EU markets - -(DAX - Red!, FTSE - Green !, CAC - Red !).
- Do you think the market will end on a higher note OR take a breather ?
- Do you think the FAANG stocks will rise above its quarterly earnings or fall ?
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