Why did SPX dip below 4200? Can Apple save the day?
$S&P 500(.SPX)$ falls more than 1% to close below 4,200 for first time since May, $NASDAQ(.IXIC)$ notches worst day since February and falls to a key level of 200MA.
Why did $S&P 500(.SPX)$ fall below 4200 yesterday?
Geopolitical conflicts raise concern on US stock market: Turkey President’s claim that Hamas is not a terrorist organisation.
Increase in treasury yields has put pressure on growth stocks: The 10-year treasury yield rose by 12 basis points to 4.96%.
Will strong US GDP change rate hike expectations?
The US GDP is 4.9%, exceeding the estimates of 4.7%, buoyed by a strong consumer in spite of higher interest rates.
Can Apple event and Apple earnings stop this bleeding earnings season?
$Apple(AAPL)$ 's upcoming event titled "Scary fast" on October 30. This event focus might be on the new M3 chip. However, Apple generally falls on the event day.
Apple, reports on Nov. 2, is expected to report revenue of $8.931 billion, up from $8.18 billion in the previous quarter; and EPS is expected to be $1.39, up from $1.26 in the previous quarter.
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Too many factors are bringing the stocks and index down to the ocean, with critical support broken recently. Most obvious one will be S&P forming lower high and lower low this wave. Moreover, the most stable Apple also drops below EMA200 trendline support for 2 days consecutively. Quite a bearish sign for the market. Apple could barely be the hero this round! [Spurting] [Spurting] [Spurting]
I will probably take a break and do more sports to stay away from the bearish market while waiting for the bottoming opportunity if there's a panic sell-off or black swam issue! How about you?
The 10-year US Treasury bond yield has also reached a new high. Conversely, gold and cryptocurrencies are gradually gaining ground, indicating a cautious and risk-off stance in the market amid numerous uncertainties. I believe the next two months will continue to be challenging.
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Apple won't be able to save the day. Can't even save itself with the rumours that it is banned in China, the rivalry between China and US is not helping. The global events with the war is not helping with inflation too. The pain will stay for some time
I like the stocks you mentioned here, what I noticed buy n hold strategy doesn't work on all stocks, but $Apple(AAPL)$
Apple Inc quote is equal to 166.130 USD at 2023-10-26. Based on our forecasts, a long-term increase is expected, the "AAPL" stock price prognosis for 2028-10-18 is 243.408 USD. With a 5-year investment, the revenue is expected to be around +46.52%. Your current $100 investment may be up to $146.52 in 2028. From wallet investor Dot com
🌟🌟🌟Israel has just launched full ground war in Northern Gaza today and this will send further jitters to the markets next week. All eyes will also be on Jerome Powell to find out what's the latest Feds stance on interest rates when the FOMC convene on October 31 to November 1.
It is not surprising that this week has been a tough week for the markets. I believe that the SPX will dip further next week to possibly touch the 4,000. The SPX is down 2.53% this week. It is the largest 1 week percentage decline since September 22, 2023.
Will $Apple(AAPL)$
It would be nice if it could, but it will take more than just Apple to save the day. The fortunes of the Magnificent 7 have seen better days this week. $Amazon.com(AMZN)$
is the best performer, up 6% on Friday after an earnings report that beat expectations. $Alphabet(GOOG)$
was down 15% after a disappointing cloud performance.
$Meta Platforms, Inc.(META)$
was up 2.9% on Friday and
$Microsoft(MSFT)$
was only up 0.59% on Friday.
Apple's upcoming Scary Fast event on October 30 will reveal its new 14 inch and 16 inch MacBook Pro models and a new 24 inch iMac and other new products.
By far the most important part of Apple's earnings report would still be the iPhone to determine the demand for iPhone 15 series. Apple was dealt a blow when the Chinese authorities banned the use of iPhones at work for government employees recently.
Nonetheless Apple has a wide brand moat due to its unique eco system.
The markets will celebrate if Jerome Powell is less hawkish next week. It is going to be an exciting week ahead.
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Concerns about the Federal Reserve's rate hikes. The Fed has been raising interest rates in an effort to combat inflation, but this has also led to concerns about a potential recession. Higher interest rates can make it more expensive for businesses to borrow money and invest, and can also lead to lower consumer spending.
Weaker-than-expected economic data. Recent economic data has been disappointing, with some key indicators suggesting that the economy may be slowing down. This has raised concerns about the sustainability of the current corporate earnings season.
Geopolitical tensions. The ongoing war and other geopolitical tensions are also weighing on investor sentiment.
The strong earnings report from Apple could help to boost the index. However, it is unlikely that Apple alone will be able to save the day if the broader market is facing significant headwinds.
國債收益率上升給成長型股票帶來壓力：10年期美國國債收益率上漲12個基點，至4.96%。