Futures higher ahead of the open
The S&P 500 fell 8 points yesterday in what was a bit of a win for the index after it fell as much as 21 points. Today, the market will likely finish the job of retracing with futures up 5 points.
Apple is the big driver after a good quarter and strong guidance. Shares are up 3.9% premarket.
Here's some trivia: Fed day is the best day to buy stocks over the past decade. If you exclude it, you take out something like 70% of the net S&P 500 gain in that time. So what's someone to do? I would argue that it isn't so obvious. The past decade has essentially been one dovish surprise after another. The lone hawkish surprise in that entire period may have been the December hike and that ended in a bloodbath for stocks.
