![]() ![]() Megacap techs Apple ( AAPL), Microsoft ( MSFT) and Google parent Alphabet ( GOOGL) led Wednesday’s morning rally, but even they gave up gains to close fractionally lower. Investors should take a more defensive stance. Decliners beat advancers easily after a promising start for market breadth.īottom line: The stock market rally is under increasing pressure. The major indexes opened by bouncing above or from key levels, only to break moving averages on the downside. case of the omicron Covid variant, in California. The stock market rally suffered a bearish reversal Wednesday after the CDC confirmed the first U.S. Snowflake earnings and Apple iPhone demand are in focus. Dow Jones futures and S&P 500 futures rose Thursday morning.
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