Stocks are up across the board heading into the final trading day of the week but something big could weigh today…
And that’s Amazon (AMZN), which is well off the overnight lows but still down a bit after reporting earnings after the close Thursday. AMZN is of course one of the biggest stocks in the world with a $2 trillion market cap.
Not only that, but the biggest stock in the world by market cap ($3.2 trillion), Apple (AAPL), is also down on earnings, and it’s down 3.5%, which is a pretty big move for this steady stock.
Apple is down after CEO Tim Cook said it will be “very difficult” to project the impact of Trump’s tariffs beyond the second quarter.
The reason the market is actually bullish at all this morning is because of China (FXI) and potential progress on tariffs. However, this could take years…
I have never seen the market up with both AAPL and AMZN down — sentiment drives price! We have two of the biggest earnings reports in the world, the stocks are down but the market is up…
This means we need to be very, very careful today!
I’ll cover all that, my daily hitlist of longs and shorts and more in this morning’s “Premarket Must Watch” video!
Roger Scott
Roger Scott Trading
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P.S. If History Repeats Itself, the Market Could Close the Year in the Red!
You see, when the market loses over 15% of its value,it’s closed in the red for the year 81% of the time…
And now, we could be on the verge of something even bigger. But there’s a way to sidestep the upcoming chaos…
