AAPL is up 1.2% in pre-market trading, lifting the overall tech sector with a $1.35 price increase to $112.50. This move comes as investors hope for a recovery in the tech industry, following a period of significant volatility. The NASDAQ futures are also up, rising 0.8% to 13,420, indicating a positive start to the trading day.
What's Happening Right Now
US futures are pointing to a higher open, with the Dow Jones futures up 0.5% to 33,500 and the S&P 500 futures rising 0.6% to 4,030. The 10-year Treasury yield is at 3.92%, down 2 basis points from the previous close. In overnight news, Asian markets were mixed, with the Nikkei 225 down 0.2% and the Shanghai Composite up 0.5%.
Why It Matters for US Investors
The pre-market move in AAPL and the overall tech sector is significant for US investors, as it indicates a potential recovery in the industry. With key earnings reports due today from major tech companies, including GOOGL and AMZN, investors will be watching closely for any signs of strength or weakness. The US economy will also be in focus, with the release of GDP growth data and inflation figures later today.
What Analysts Are Saying
Analysts at Goldman Sachs are predicting a 2.5% increase in S&P 500 earnings this quarter, driven by a recovery in the tech sector. Morgan Stanley analysts, on the other hand, are cautioning that the market rally may be overextended, and that investors should be prepared for a potential pullback. UBS analysts are recommending a buy rating on AAPL, citing the company's strong fundamentals and growth prospects.
Key Takeaways
- AAPL is up 1.2% in pre-market trading, lifting the tech sector.
- US futures are pointing to a higher open, with the Dow Jones futures up 0.5% and the S&P 500 futures rising 0.6%.
- Key earnings reports are due today from major tech companies, including GOOGL and AMZN.
Frequently Asked Questions
What is driving the pre-market move in AAPL?
The pre-market move in AAPL is likely driven by hopes of a recovery in the tech industry, following a period of significant volatility.
What are the key economic data releases today?
The US GDP growth data and inflation figures are due for release later today, and will be closely watched by investors for any signs of strength or weakness in the economy.
What are analysts predicting for the S&P 500 earnings this quarter?
Analysts at Goldman Sachs are predicting a 2.5% increase in S&P 500 earnings this quarter, driven by a recovery in the tech sector.
