Hello traders everywhere! Jeremy Lutz here with your mid-day market update for Tuesday, the 15th of January.
Apple has fallen as low as $483.95 today, that makes it 3 days in a row . The last time AAPL closed below $500 was on 02/15/2012. Apple slumped 3.6 percent Monday on concern that demand for its iPhone 5 is slowing. Will Apple beat earnings next week?
Stocks have dropped Tuesday despite a report that retail sales increased in December. Consumers bought more autos, furniture and clothing, despite worries about potential tax increases. Sales rose 0.5 percent in December from November, slightly better than November's 0.4 percent increase and the best showing since September, the Commerce Department said Tuesday.
The outlook for manufacturing in New York state worsened in January, according to survey by the Federal Reserve Bank of New York. The bank's Empire State Manufacturing Survey produced a reading of minus 7.8 for the month, indicating contraction.
Let's see what the Trade Triangles say about the markets today.
Every Success,
Jeremy Lutz
