Authored by Eric Peters via EricPetersAutos.com,
Whatever their failings, machines generally don’t second-guess you. Turn them on, turn them off. Point them in a certain direction. Command them to move or spin or do whatever it is they were made to do and – assuming they are not broken – they will usually do it.
And won’t try to nudge you to do what they think is best.
Once again, it took Apple just a few years to catch up to Amazon and Google.
In a rare negative move on Apple, Pacific Crest downgraded the tech giant from Overweight to Sector Weight. As StreetInsider notes, analyst Andy Hargreaves says the upside from the iPhone 8 appears to be priced in to the stock. He tells clients in a Monday research note that the risks to Apple might not be priced in, referring to the risk that iPhone sales could potentially decline in FY 2019.
The day after Trump pulled out of the Paris Climate Accord, stocks are set for new all time highs with S&P futures up 0.2%, boosted by green markets across Europe and Asia, where the Nikkei rose above 20,000 for the first time since 2015. World stocks are set for new record highs, having already gained 11% so far this year, ahead of today's US nonfarm payrolls which are expected to increase by 185,000 jobs after surging 211,000 in April.
S&P futures are little changed this morning, while Asian shares rise and European stocks (+0.5%) are poised to snap a five-day losing streak amid a broad-based rally. The pound declined as better-than-expected manufacturing data failed to offset political risk before the impending election, while crude oil gained.