Both IBM and Google disappointed after yesterday’s close, leading to an immediate selloff, all of which was recouped by the overnight levitation, followed by a rally on… Philly Fed? Claims? Neither of which have been useful information for months and months, at least from an economic point of view. Oh yes, it is Opex and the cheaters are playing hard.
But if anyone thinks that disappointment from yesterday’s and today’s tech giants isn’t going to leave a mark, I expect to have news for you in the not too distant future. This market is about earnings, after all. And no real American knows where Ukraine is so it doesn’t matter. Not yet, anyway.