Stocks Up On First Trading Day Of The Year, But Apple Likely To Weigh On Market Today

The markets finished positive in their first trading day of 2019.

But it didn't start out that way.

Stocks opened sharply lower with big red arrows across the board. But stocks slowly erased those losses and turned higher. They dipped back into negative territory late in the afternoon, but then zipped right back up by the close. It was an impressive performance and just adds to the rebound that started the day after Christmas.

But 2019 starts much like 2018 left off - the partial government shutdown is still going, earnings growth will slow, traders are wondering what the Fed will do on rates and quantitative tightening, and everybody is anxious to hear of more trade progress between the U.S and China.

In the meantime, stocks are likely to come under pressure today after Apple warned of slower holiday sales yesterday. With Apple being a large part of the major indexes (for example, their market cap is more than 3.3% of the total market cap of the S&P), they will definitely weigh on the markets.

But what traders are really looking forward to is Friday's always important Employment Situation Report. This will give us another look at the strength of the economy, the jobs market, and what the Fed might or might not do next.

For now, traders will continue to watch the obstacles outlined above, but do so with an eye on all of the opportunity it brings with it.

As I've said before, now is the time to start looking at all of the great bargains out there. There are amazing stocks selling at prices you could've only wished for a few short months ago. And some trading at prices not seen in years.

There's a reason why so many large money managers, and professionals, and pension funds are coming in and buying. And why you should too. To learn all about the big opportunities they present and how to capitalize on them, be sure to read our latest commentary...

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