Stocks Rally On Apple's Earnings
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Starting May 1, 2012.
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Wednesday, April 25, 2012
Stock Market Commentary:
Apple’s Earnings Top Estimates, Durable Goods Disappoint, and Fed Reiterates Recent Stance:
Stocks and a slew of risk assets opened higher on Wednesday as investors looked passed a disappointing durable goods number and focused on a much stronger-than-expected earnings report from Apple Inc. (AAPL). The Commerce Department said total durable goods orders fell by -4.2% during March which missed the Street’s estimate for a decline of -1.7%. Excluding transportation items, durable goods orders fell by -1.1%, which still missed the Street’s estimates for a gain of +0.5%. The Fed concluded its two-day meeting, held rates steady, and largely reiterated their recent data-dependent stance regarding future policy. For months, the U.S. Fed has taken a “wait-and-see” approach for handling policy and whether or not to initiate another round of QE (i.e. stimulus).
Market Outlook- In A Correction
From our point of view, the market is still digesting its strong move in Q1 of 2011. The major averages are currently struggling with their respective 50 DMA lines as investors digest a slew of earnings and economic data. As always, keep your losses small and never argue with the tape. If you are looking for specific help navigating this market, feel free to contact us for more information. That’s what we are here for!
