Apple Today - 5/31/2016 (AAPL)
seymour_greenz • May 31st 2016 09:30:18 AM
Good Morning,
Welcome back! NASDAQ Futures are up 7 with +5 Fair Value, S&P Futures are up 3 with +3 Fair Value and Dow Futures are up 35 on this final trading day of May, leading into a short but busy week of economic data. Futures were up in early morning and dropped at 3am to hit lows at 4am but have since bounced back as we await the open.
Asian markets ended up. China gained 3.34%, Hong Kong went up 0.9% and Japan increased 0.98%. European markets are mostly down today. The UK is currently flat, Germany is down 0.16% and France is down 0.19%.
Commodities are mixed this morning. Oil is up 0.51%, natural gas is up 0.97% and gold is down 0.29%. Unleaded gas is down 0.90% and heating oil is up 0.73%. Metals are mixed. Meat is mostly up. Cocoa, coffee and soybeans are up while cotton, corn and wheat are down.
Consumer spending in US rises by most in nearly 7 years. India's economic growth surges in March quarter. Brent crude lower on strong Middle East oil output.
The Bank of Nova Scotia (BNS) reported Q2 earnings that beat expectations and is up nearly 1.5% in pre-market.
This afternoon after the bell, look for earnings from Workday (WDAY) and Ooma (OOMA).
Tomorrow morning, Cracker Barrel Old Country Store, Inc. (CBRL), Vera Bradley (VRA), Lands' End, Inc. (LE), G-III Apparel Group, LTD. (GIII) and Michael Kors Holdings (KORS) are expected to report.
AAPL had a very strong week last week, gaining 5.39% on heavy volume. On Monday, AAPL showed some life, leaping up from the 95-area to 97 on Buffett news with high volume and then closing out the day in the mid-96 area. On Tuesday, AAPL revved up its engines from 97 to 98. On Wednesday, AAPL showed a mountain of strength as it went from 98 to within striking distance of 100 on high volume. On Thursday, the AAPL rocket flight arced up on high volume and even went on to reclaim 100 for the first time in over a month, closing near the highs. On Friday, AAPL opened lower at 99.44 to high volume and quickly set a low of 99.25 on very high volume before bouncing up above 100 to a high of 100.47 at 10:09am on high volume and then gravitating around 100 for most of the day with aspirations of beating the high towards the end of the day but not quite making it. AAPL ended Friday down 6 cents at 100.35 and dropped an additional 11 cents in after-hours to 100.24.
This morning in pre-market, AAPL initially picked up where it left off before the holiday but later declined below 100 on reports of Goldman Sachs cutting smartphone growth estimates. AAPL is down 50 cents at 99.85 as we approach the open.
Classic max-pain is 99.
Consumer spending in US rises by most in nearly 7 years:
http://www.bloomberg.com/news/articles/2016-05-31/consumer-spending-in-u-s-rises-by-most-in-almost-seven-years
India's economic growth surges in March quarter:
http://www.reuters.com/article/us-india-economy-gdp-idUSKCN0YM1K0
China stocks post biggest rise in 3 months on expected MSCI inclusion:
http://in.reuters.com/article/us-china-stocks-idINKCN0YM16J
Brent crude lower on strong Middle East oil output:
http://in.reuters.com/article/global-oil-idINKCN0YM0YU
German unemployment rate falls to record low in May:
http://www.reuters.com/article/us-germany-economy-unemployment-idUSKCN0YM0QQ
Verizon, unions agree to pay raises, new jobs to end strike:
http://www.reuters.com/article/us-verizon-strike-deal-idUSKCN0YL1E7
Apple's plan to sell used iPhones in India officially gets rejected:
http://www.cnet.com/news/apples-plan-to-sell-used-iphones-in-india-officially-gets-rejected/
Facebook, Twitter, YouTube, Microsoft back EU hate speech rules:
http://in.reuters.com/article/facebook-twitter-hatecrime-idINKCN0YM0WB
MySpace and Tumblr hit by "mega breach":
http://www.bbc.com/news/technology-36416855
1 in 5 smartphone users uses an ad-blocker on their phone:
http://www.cnet.com/news/one-in-five-smartphone-users-uses-an-adblocker-pagefair-report-says/
Will "mega-tasking" sell new 10-core CPUs for Intel?
http://www.theverge.com/circuitbreaker/2016/5/31/11810098/intel-broadwell-e-computex-2016
Asus takes on the Apple Macbook with its new ZenBook 3:
http://www.cnet.com/uk/products/asus-zenbook-3/
ASUS unveils $599 Zenbo home robot:
http://www.zdnet.com/article/computex-2016-asus-unveils-599-zenbo-home-robot/
Qualcomm aims new chip at kids, old people, and pets:
http://fortune.com/2016/05/31/qualcomm-aims-new-chip-at-kids-old-people-and-pets/
Narcotic painkillers actually worsen and lengthen chronic pain?
http://www.techtimes.com/articles/162007/20160531/can-narcotic-painkillers-actually-worsen-and-lengthen-chronic-pain.htm
Bumblebees "use the Force":
http://www.npr.org/sections/thetwo-way/2016/05/30/479804121/bumblebees-little-hairs-can-sense-flowers-electric-fields
Today's Economic Calendar:
8:30 Personal Income and Outlays
9:00 S&P Case-Shiller Home Price Index
9:45 Chicago PMI
10:00 Consumer Confidence
10:00 State Street Investor Confidence Index
10:30 Dallas Fed Manufacturing Survey
3:00 Farm Prices
Notable earnings this afternoon before the open: INPCF, ATAI, ZOES, *WDAY*, ASNA, NCS, INNL, JRJC, IDGBF, *OOMA*
And tomorrow before the bell: ATHM, *CBRL*, DAKT, NTIOF, AHONY, *VRA*, *LE*, *GIII*, WOSCF, CMCO, ENS, *KORS*