Once we get past another batch of big earnings, notably Apple’s after the close of trading Tuesday, investors will need to get ready to face the Fed full on.
“Now that the market has bounced back they might not be so dovish,” he said, adding that he doesn’t think Wall Street is ready for that. “That doesn’t mean it will be another big correction like we saw in the fourth quarter, but the market is getting overbought,” he adds. “It’s funny because when stocks react well to bad news that’s usually a good sign, but when you have so many different companies making fairly negative comments about the next few quarters, you just wonder if people are whistling past the graveyard,” said Maley.
The dollar DXY, -0.29% is down as the euro EURUSD, +0.2771% rallies on upbeat data. Gold GCM9, +0.50% is climbing and crude CLM9, +1.45% is also bouncing higherEurope stocks SXXP, -0.11% are lower. In Asia, China stocks SHCOMP, +0.52% rose, even after data showed weaker factory activity. Airbus AIR, +0.03% is set to be crowned biggest jetliner maker for 2019. The company’s profit leapt and plane deliveries shot up, as Boeing BA, -0.46% had to cut production of its 737 MAX planes following two fatal crashes.
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