The stock market picture will look so much better on a 5G-enabled phone or a new television.
That apparently is what investors were banking on when the NASDAQ Composite Index shot up 2.56% Monday, thanks in large part to Tuesday events that you’re either anticipating from Apple and Amazon or soon will be.
Apple received a 6.35% bump during the Monday regular session with an expectation that it will introduce the iPhone 12 on Tuesday. The 5G addition would make for faster connectivity and the phone could feature augmented reality capability and OLED screens that no longer would be backlit. In other words, yet another better phone.
If people are not spending their money there, there is a good chance they will be making it rain on an Amazon site or app Tuesday and Wednesday. Prime Day, moved from the usual back-to-school July timing, is offering a million deals for billions of dollars of impact.
Amazon stock increased by 4.75% Monday with research firm eMarketer predicting almost $10 billion in sales for Prime Day, which tallied $6.93 billion last year on things you had to have or did not know you needed.
The mid-October timing has industry experts believing that you are starting your Christmas shopping, just like all those brick-and-mortar stores wished when they put up indoor trees before the leaves fell from the outdoor ones.
The S&P 500 is staging a comeback from a September plummet and the tech giants are leading the rally. Microsoft, Facebook and Twitter also enjoyed Monday jumps.
“Apple is crushing it,” Ladenburg Thalmann Asset Management chief executive Phil Blancato told Reuters. “There’s some euphoria around the name.”
The trend is your friend, as long as you can predict it.