The Nasdaq 100 Futures Contracts Pointing to a Lower Open as the Nasdaq Composite is on Pace to have its Worst January Ever
Apparel, footwear, and accessories company VF Corp. announced better-than-expected earnings and revenue but fell more than 6% in premarket trading. The clothing company reported ongoing supply chain issues. If VF is a harbinger for the upcoming retailers earnings reports, we may not be out of the woods in market volatility anytime soon.
As we go into the open, the Cboe Market Volatility Index is over 30 which could be a “strap in” kind of signal for investors. Additionally, crude oil futures are trading at another seven-year high despite the stronger dollar. As the U.S. dollar strengthens, large-cap international companies will start to struggle with overseas sales because the stronger dollar will make their products more expensive.
Intel , which announced better-then-expected earnings and revenue, dropped more than 7% on the news that the company’s management provided lower-than-expected forward guidance. INTC weighed heavily on the semiconductor group. The PHLX Semiconductor Index fell 4.78% on the day. First, define your time horizon. If you’re a long-term investor, then you know your job is to ride out the ups and downs, so maintain your focus. If you’re a short-term trader, make sure you’re following your rules and sizing your positions accordingly.Second, make sure your long-term portfolio aligns with your goals and risk tolerances. Sometimes we get a few investments that really outperform the markets, and they stick out in our portfolios. These are great.
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