Roberts also thinks, however, that if you exclude Apple, the first quarter would be negative. As he spoke, things weren’t looking good. The Dow Jones Industrial Average, S&P 500, and Nasdaq Composite Index hit their lowest levels in a month during Monday afternoon trading.
“Apple is the engine, and it’s benefiting from a dovish Federal Reserve. Would Apple be trading where it is right now if short-term bonds were yielding 4 to 5 percent? No. If people had an alternative, they wouldn’t take the risk," added Roberts.
The first-quarter earnings season begins with Alcoa after the bell on Tuesday.
Additional News: Weak Jobs Report Could Test Market Bull Additional Views: Low Growth in Earnings Is Expected ______________________________
CNBC Data Pages:
Stanley Crouch personally invests in AAPL call options. Aegis Capital's accounts do not contain Apple stock.
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