Before we begin, I’m holding a special open house session of my VIP Trade Room, and everyone’s invited! We’ll discuss the volatile week that was, the hottest stocks in the market, a breaking update on earnings and why you need to watch bonds and sector fragmentation… Go here to join the session at 11 a.m. EDT today.
Can’t wait to see everyone there!
The major indices are down following earnings reports from tech giants Amazon and Apple after the closing bell on Thursday — and more in Friday’s stock market recap.
Amazon reported weaker-than-expected earnings and lowered forward guidance, causing shares to drop roughly 10% in premarket trading. Amazon is now down 25% over the past month!
Apple beat on earnings, revenue and gross margin. But the company’s warning that COVID-19-related supply constraints could hurt sales by as much as $8 billion in the next quarter caused the stock to sink lower by about 1% premarket. Apple is down about 9% the past month.
Oil companies Chevron and Exxon were also down 1% premarket despite reporting strong earnings on higher energy prices.
In this morning’s stock market recap video, you'll learn whether the market is pointing higher or lower… when volatility will subside… the real takeaway from Thursday’s GDP report… whether sectors are fragmented or not and what it means for stocks… major price levels on bonds and stocks… plus a review of three winners from this week.
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