It is doubtful whether we can hold on to the increase in the next few days.
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U.S. stocks rose slightly on the first trading day of the New Year on Wednesday, rebounding after a sharp opening drop as low-suction buying helped recover losses, but concerns about the global economic slowdown limited gains.
Most of the time in the U.S. stock market, looking for direction, the final three major indexes all closed higher. But after Apple (AAPL.O) cut its revenue forecast, stock index futures fell in after-market trading, raising doubts about whether U.S. stocks can hold up today's gains in the next few days.
Apple's shares fell 8% after the session, and its suppliers'shares also fell. E-Mini S&P 500 Index futures fell about 0.5%, suggesting that Wednesday's moderate gains could be erased when the market opened on Thursday.
With the advent of 2019, some analysts are looking for the "January effect", which is the return of investors, after the worst performance of the US stock market in 10 years in 2018.
"There's no direction," Ben Phillips, Eventshares investment chief, said earlier Wednesday. "Next week may have a better interpretation of the January effect."
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