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Market Sinks Despite BIG Apple Earnings. Are We Near a Bottom Yet?

by | Jan 28, 2022

The major indices are mostly down again as Wall Street’s worst sell-off since March 2020 continues — and more in Friday’s stock market recap.

Dow futures swung from a 250-point gain overnight to a 100-point hole amid volatility. Right now, it’s hovering near its 200-day moving average. If it can rise above this point of support, things should start to look up.

A lot of investors thought the Dow would hold up better due to strong earnings from Apple Inc. (Nasdaq: AAPL) after the bell Thursday. 

The tech giant reported better-than-expected quarterly earnings of $2.10 per share compared to estimates of $1.89, representing an earnings surprise of 11.11%.

Apple was up 2.5% in premarket trading.

Elsewhere in the news, we have analyst calls from Goldman Sachs Group Inc. (NYSE: GS), Tesla Inc. (Nasdaq: TSLA) and Walmart Inc. (NYSE: WMT) to look forward to. 

In this morning’s stock market recap video, you will discover whether Apple earnings can move markets… why I believe the market is close to bottoming out… key levels on the S&P 500 and Nasdaq… an update on volatility levels and Federal Reserve data… and two profitable closed trades from this week’s action.

Don’t forget to like and subscribe to our YouTube channel if you haven’t already so you can be notified as soon as we post our next video and see what other trade opportunities we’re paying close attention to! 

Stock Market Recap: By the Numbers

This morning’s stock market futures recap: 

DOW (mini)

  • Close: 34,160.78.
  • Futures: 33,945.
  • Change: -93.

S&P 500 (mini)

  • Close: 4,326.51.
  • Futures: 4,315.5.
  • Change: -2.25.

NASDAQ (mini)

  • Close: 14,003.11.
  • Futures: 14,011.25.
  • Change: +21.5.

RUSSELL (mini)

  • Close: +21.5.
  • Futures: 1,919.5.
  • Change: -8.8.

Note: Updated as of 9.23 a.m. EST  

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On Fridays, we’ll review the week that was… We’ll discuss how our trades did, what we learned and how to apply it to next week’s trading plan, and any developing trade setups. This video will put a bow on the week. We’ll also go over winners from my different member strategies.

Need help understanding some basics that we discuss frequently? Check out some of our educational pieces to get you up to speed!

Check back each morning for Roger’s Radar and the most important news and numbers in the WealthPress stock market recap.

WRITTEN BY<br>Roger Scott

Roger Scott

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