Summary:
- Red open for Wall Street
- US500 now almost 60 points of Friday’s high
- Apple falls ahead of earnings release on Thursday after the bell
US stocks have began their cash session trading lower after a fairly notable decline was seen during Monday’s session. The US session yesterday was the worst of the year so far for the S&P500 with a decline of 0.67% the largest drop during cash hours since early September. This decline ended a streak of 99 days without a 0.6% loss for stocks which was the longest such streak ever.
The US500 has declined strongly in the past 36 hours, falling around 60 points after making a new record high at 2880. Source: xStation
Today the market has continued to decline with the US500 falling to levels not seen since last Monday and moving around 60 points off its all-time high made just yesterday at 2880. The area around 2833 acted as support on the first test but has broken below here in the last hour and the previous breakout level at 2809 is now exposed for a retest.
One of the most keenly followed stocks on the US500 is Apple and the tech giant has seen a strong move lower in recent trade. After posting a new all-time high above 180 around 2 weeks ago the price has taken a tumble and fallen to a level not seen since October. The market may be getting a little jittery heading into the earnings release which is scheduled Thursday after the closing bell.
The stock of Apple has fallen fairly sharply in recent trade, hitting a 3-month low ahead of earnings release later this week. Source: xStation