“U.S. stock index futures rose sharply on Tuesday in anticipation of bargain hunting a day after Wall Street turned in its worst performance in four years and as China cut interest rates for the second time in two months,” Tanya Agrawal reports for Reuters.
“All three major Wall Street indexes fell into correction mode over the past two trading days. An index is said to be in correction when it closes 10 percent or more below its 52-week high,” Agrawal reports. “The move by China’s central bank, which also relaxed reserve requirements for the second time in two months, came after Chinese stocks slumped 8 percent on Tuesday.”
Agrawal reports, “Apple’s shares were up 6 percent at $109.38 in premarket trading. The stock had slumped as much as 13 percent on Monday, before ending down 2.5 percent.”
Read more in the full article here.
MacDailyNews Take: Expect rough seas.
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Even at 109 AAPL is a steal !