what Today's Markets: Stocks down, Apple delivers

FTSE 100 falls 1 percent
Apple quarter results beat top and bottom line
Tesla declines 11 percent
Markets European shares slipped in early change as markets keep to cut withinside the wake of the latest discounts. The FTSE one hundred is off nearly 1 consistent with cent, much less than peers, with the DAX -1.three consistent with cent and Stoxx 50 -1.2 consistent with cent. US markets have been combined the day prior to this with the Dow flat, S&P 500 down 0. fifty-four consistent with cent, the Nasdaq –1.four consistent with cent, and Russell 2k –2.2 consistent with cent. Futures for the small caps index imply a new cycle low, weakest considering December 2020, however, the relaxation is keeping inside Monday’s range – no new highs, no new lows. Some indecision – three consistent with cent intraday swings have become common - however, it becomes the 10th immediately day in which decliners outpaced advancers... promoting keeps. Earnings to this point are top with eighty consistent with cent of the hundred forty-five corporations withinside the S&P 500 which have suggested to this point beating estimates however the marketplace has different matters on its thoughts. Trash remains trash: COIN –five consistent with cent, MSTR –10 consistent with cent, ARKK –four consistent with cent, and Tesla (TSLA) –eleven consistent with cent (see under). US GDP got here in larger than predicted at +6.nine consistent with cent vs five. five consistent with cent forecast... massive stock construct over the sector that's perhaps now no longer this type of tremendous sign for Q1 2022. Ian Shepherdson at Pantheon says: "Hugely flattered through inventories; Q1 GDP might be plenty weaker." Instinctively I agree and it indicates the Fed desires to crack on with the tightening as tailwinds are easing... PMIs and retail income remember? Other facts become high-quality however now no longer inspiring: preliminary jobless claims in line at 260k; long-lasting items orders down -0.nine consistent with cent vs the predicted –0.five consistent with cent decline; pending domestic income down –three. eight consistent with cent vs –0.2 consistent with cent estimate – loss of delivering. Today is PCE inflation day.
Inflation is a drag on the economy! And the Fed is involved it’s long past so gradual it’s now trekking into now no longer simply marketplace turmoil however additionally recessionary signs... stagflation klaxon. The Fed ‘put’ is dead... all of the marketplace and the Fed can desire for is smooth landing: inflation eases proper returned, deliver chain issues are fixed, fewer hikes wanted and we will all say Jay is a genius... most effective this isn't the maximum probably final results so yields are searching like they may invert and every person is walking for cover. Energy nevertheless the brightest spot – commodities are top however power is likewise the only vicinity in which you could rely upon dividends and buybacks regardless of the Fed is doing to the bargain rate. Don’t combat the Fed or the tape appears to be the front of thoughts proper now... Omicron and Russia it ain’t. Companies Apple posts document figures amidst tech promotion off Investor