Stock Market Brakes Ahead of Week’s Earnings Blizzard
U.S. stocks and ETFs stall at resistance levels and before this week’s earnings blizzard.
Major U.S. stock indexes and ETFs finished Tuesday mostly flat in front of this week’s earnings reports and just below recent resistance levels that have so far held firm.
Apple (NASDAQ:AAPL) continued battering the technology sector and technology ETFs (NYSEARCA:QQQ) as the company’s stock declined another 3.15% on the day. Apple’s loss came on top of a an almost 4% drop on Monday and leaves the stock at $485.92, down approximately 30% from its September high.
The financial sector will headline the earnings reports with JP Morgan and Goldman Sachs due to report Wednesday.
Economic reports today showed December retail sales climbing 0.5% and beating forecasts while the Empire State Index contracted -7.8, significantly worse than the -2.5 expected and last month’s -7.3…