Dow Jones futures rose slightly late Tuesday along with S & P 500 futures and Nasdaq futures as the stock market rally staggered with fears over Chinese trading and its biggest setback since the fall of Apple's stock on 3 March January received good news for the Dow Jones. Results for Online Brokerage TD Ameritrade (AMTD) and Interactive Brokers (IBKR) diverged. Meanwhile, the marijuana stock Aphria (APHA) paced up and down as the Green Growth Brands takeover bid took a different turn.
Dow Jones Futures Today
Dow Jones futures rose 0.35%. vs. fair value. The S & P 500 futures climbed 0.25%. The Nasdaq 100 futures rose 0.3%. IBM is a Dow component and therefore provides support for Dow Jones futures. Keep in mind that the overnight action in Dow futures and elsewhere is not necessarily translated into actual trading in the next regular trading session.
IBM (IBM) beats the Q4 estimates and went up. Keep in mind that IBM's revenues and revenues have declined compared to last year. IBM shares rose 6.5% in late trading, but equities moved in a multi-year downtrend.
TD Ameritrade and Interactive Brokers Earnings
TD Ameritrade's earnings per share increased 39%, beating expectations. Revenues and revenues of Interactive Brokers have fallen slightly. The TD Ameritrade share rose 2.3% late, signaling a rise above the 200-day mark. The stock of Interactive Brokers fell 1.8%.
Marijuana Stocks: Aphria Haze
The New York Stock Exchange listed Aphria share fell 0.6% in late trading, reversing past gains. Green Growth Brands offered Aphria an official offer and offered 1.5714 Green Growth shares (listed in Canada) for the Aphria share. A similar takeover bid for Aphria was made by Green Growth in late 2018, which was rejected by Aphria of Canada as too low. Short sellers who doubted other transactions by Aphria also surveyed Green Growth's relationship with Aphria.
Stock Market Rally Setback
The stock market rally suffered its biggest setback since Apple (AAPL). The profit warning shook the main averages on 3 January.
The Dow Jones fell 1.2% on Tuesday, the S & P 500 Index fell 1.4% and the Nasdaq Composite lost 1.9%. The Dow and S & P 500 underperformed their 50-day moving averages during the day, but all three indexes closed above this key level. The Apple share fell 2.2%, as the iPhone maker even has to keep up with the stock market rally.
The stock market fell partially due to reports that the Trump administration had rejected a planned China trade meeting differences in intellectual property rights. White House economic adviser Larry Kudlow told CNBC that there was no canceled meeting that would easily support the stock market closing stock price.
The stock market rally was fueled not least by the hope of trading with China. Anything else that implies could hurt.
Apart from the headlines of Chinese trade, the stock market rally has to struggle with few hurdles. With the fall of Apple's share price on January 3, followed immediately by the S & P 500-following day, the big averages since Dec. 24 had not dropped much-off, but the stock market rally is intact for the time being. If the major averages continue to stack the distribution days, this will be more of a concern.
Dow Jones futures, which are recovering slightly from the 50-day line, are encouraging, but the actual Dow and the leading indices would be more meaningful. 19659013] What else you might like:
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