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 ?
Please "Like" this post ok. Thanks. The rating is very important to me !!
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
