The stock market notched gains on Monday as investors awaited fresh inflation data for November which will released on Tuesday. The Federal Reserve is also set to hold its two-day policy meeting this week, which will conclude on Wednesday.
Overall, S&P 500 was up 0.4% to 4,622, while NASDAQ increased 0.2% to 14,432.
Tweet of the Day
Net Equity Fund Manager positioning still not even close to typical bull market positioning.
How do multiples expand beyond normal consideration… well there ya have it!$SPX $SPY $QQQ $DIA $NDX pic.twitter.com/xV6fFXv6Tx
— Seth Golden (@SethCL) December 11, 2023
Chart of the Day
Here is the ten-year chart of Apple (AAPL) as of November 15, 2023, when the stock was at $188.
In last quarter’s earnings call, Apple’s management stated that the Apple Vision Pro would be in the hands of customers early 2024. That’s fantastic because it gives this company a catalyst to look forward to, as the current product lineup doesn’t spark much excitement. Last quarter, Apple revenue was -1% as iPhone sales increased a paltry 3%. Mac sales declined 34% and iPad sales fell by 10% year-over-year. The only good operating segment was Services, which delivered sales growth of 16%.
AAPL is part of the Conservative Growth Portfolio. The Vision Pro could be a catalyst for profits and the stock in 2024.
