Most rallies start with aggressive short covering.
This is what have started this morning at 11am EST
From Reuters
STOCKS TO WATCH
- Amazon.com Inc (AMZN). The company forecast holiday season sales and profit that missed Wall Street targets, projecting revenue growth that would be the slowest in years. It forecast that fourth-quarter sales will rise between 10 percent and 20 percent, or up to $72.5 billion. That would be Amazon’s lowest quarterly sales growth since at least the start of 2016.
- Alphabet Inc (GOOGL). The company on Thursday missed analysts’ quarterly revenue estimates for the first time in at least two years and reported continuing erosion of its operating margin, sending shares down. Overall revenue rose 21 percent to $33.74 billion, missing analysts’ estimate by about $310 million, according to Refinitiv data. Alphabet reported net profit of $9.2 billion, or $13.06 per share, compared with $6.7 billion, or $9.57 per share in the year-ago quarter. That beat the average analyst estimate of $10.45.