Apple stock barely recovered from May 4, the third worst trading day since the 2020 US presidential election. Yesterday, May 5, the stock gained a modest 0.1% to end the trading session at $ 128 per share.
In the pre-market action, AAPL started heading slightly higher in 0.2% at the last check. Below, the Apple Maven discusses some of the key factors that could move Apple stocks during May 6. session.
A few events this Thursday could move not only Apple stocks, but the market more broadly. For example, before the opening bell, the S&P 500 have exchanged 0.2% higher and Nasdaq -0.37% lower. Here are some potential movers:
- TheStreet: “Stock futures edged higher on Thursday, a day after the Dow Jones Industrial Average set a closing record and traders awaited key US jobs data.”
- On the calendar of events, there will be reports on unit wage costs and initial claims. In addition, it is estimated that 543 companies will report profits, including Moderna (MRNA), Roku (ROKU) and Peloton (PTON).
Little company-specific news appears to influence Apple stocks today. Large-scale market movements could be driving action on today’s session. Here are the most likely forces behind the stock’s performance:
- Helping the stock was a moderate drop in interest rates. After Treasury Secretary Janet Yellen spoke (perhaps backwards) about the need to increase yields to calm economic activity, she allayed concerns by ensuring the independence of the Federal Reserve. The bond market appreciated the move.
- The lingering battle between Apple and Epic Games may still be hurting the stock. It is unclear to what extent the legal fight impacted the Cupertino company’s share price. But until resolution, the drop could come from app store uncertainty.
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(Disclaimers: This is not investment advice. The author may go along with one or more actions mentioned in this report. Additionally, the article may contain affiliate links. These partnerships do not ‘influence editorial content. Please support The Apple Maven)