Apple Today 9/13/2016 (AAPL)
seymour_greenz • September 13th 2016 09:49:25 AM
Good Morning,
Yikes again? NASDAQ Futures are down 25 with -20 Fair Value, S&P Futures are down 15 with -15 Fair Value and Dow Futures are down 116 on this Tuesday after a nice dovish bounce yesterday. The calendar shows a handful of economic data expected today and is rather sparse on the earnings side. Futures were down in early morning, hitting a low just after 4:30am, then bouncing slightly afterwards but are now at the lows as we approach the open.
Asian markets ended down sharply. China dropped 2.34%, Japan fell 1.35% and Hong Kong led the decline, down 2.94%. European markets are also down sharply. The UK is down 2.11%, Germany is down 1.79% and France is leading the decline, down 2.19%.
Commodities are mixed this morning. Oil is down 2.25%, natural gas is up 0.17% and gold is up 0.21%. Unleaded gas is down 1.52% and heating oil is down 0.74%. Metals are up except platinum. Meat is up. Coffee and cotton are up while cocoa, corn, wheat and soybeans are down.
Global stocks edge up as Fed view only partly soothes markets. Dollar gains as falling oil damps demand for riskier currencies. IEA changes view on oil glut, sees surplus enduring in 2017.
United Natural Foods, Inc. (UNFI) reported adjusted Q4 earnings of 70 cents yesterday afternoon that beat expectations and is up over 2.5% in pre-market.
On the other hand, USA Technologies, Inc. (USAT) announced Q3 results this morning with an adjusted loss of 1 cent per share that missed estimates and is down over 4% in pre-market.
Tomorrow morning before the open Cracker Barrel Old Country Store, Inc. (CBRL) is expected to report.
AAPL took the hairpin turn yesterday, turning from a terrible shade of red to scenic green and ending up 2.24% on high volume. AAPL opened down at 102.65 to high volume and quickly put in a low of 102.53 on strong volume before the turnaround bounce and quite rapidly made traction towards 105 on high volume. AAPL spent the morning and early afternoon dancing in the upper-104 lane before shifting into high gear and taking 105 by mid-afternoon and driving on to set an intra-day high of 105.72 at 3:42pm on moderately high volume before settling slightly into the close after the big turn up (not to be confused with the big turnip which is a different thing entirely). AAPL ended the day up 2.31 at 105.44 and gained 27 more cents in after-hours to 105.71.
This morning in pre-market, AAPL opened up lower in conjunction with Futures and stalled in 105-area on low volume until 7:30am when reports of Sprint iPhone 7 orders hit the news and AAPL crushed the gas pedal up into 107 and beyond on high volume. AAPL is currently up 1.86 at 107.30 as we approach the open.
Classic max-pain is 105.
Global stocks edge up as Fed view only partly soothes markets:
http://www.reuters.com/article/us-global-markets-idUSKCN11J01C
Dollar gains as falling oil damps demand for riskier currencies:
http://www.bloomberg.com/news/articles/2016-09-13/dollar-reverses-decline-as-falling-oil-weighs-on-risk-appetite
IEA changes view on oil glut, sees surplus enduring in 2017:
http://www.bloomberg.com/news/articles/2016-09-13/iea-changes-view-on-oil-glut-sees-oversupply-persisting-in-2017
Negative rates may do more harm than good:
http://www.bloomberg.com/news/articles/2016-09-13/negative-rates-may-hurt-more-than-help-taylor-rule-creator-says
Wells Fargo drops product sales goals for retail bankers:
http://www.bloomberg.com/news/articles/2016-09-13/wells-fargo-eliminates-product-sales-goals-for-retail-bankers
iPhone 7 and 7 Plus review: Great annual upgrades with one major catch:
http://arstechnica.com/apple/2016/09/iphone-7-and-7-plus-review-great-annual-upgrades-with-one-major-catch/
Microsoft launches Actiongram on HoloLens with a tiny George Takei:
https://www.engadget.com/2016/09/13/microsoft-launches-actiongram-on-hololens-with-a-tiny-george-tak/
Samsung software patch for Note 7 caps charge at 60%:
http://www.theverge.com/2016/9/13/12900970/samsung-note-7-patch-software-bad-battery
GM says Bolt EV to have 238-mile range, more than Tesla Model 3:
http://www.reuters.com/article/us-gm-bolt-idUSKCN11J1E1
Amazon Alexa's new skill, Geneva, lets you voice control your GE appliances:
http://www.cnet.com/news/amazon-alexas-new-skill-geneva-lets-you-voice-control-your-ge-appliances/
Netflix wants annoying data caps to be illegal:
http://www.theverge.com/2016/9/12/12892912/netflix-fcc-letter-opposing-data-caps
MSI wants to power your VR headset with a backpack:
http://www.pcmag.com/news/347818/msi-wants-to-power-your-vr-headset-with-a-backpack
SpaceX rocket failure could be an opportunity for Blue Origin:
http://www.csmonitor.com/Business/2016/0912/Is-SpaceX-s-rocket-failure-Blue-Origin-s-opportunity
Gravitational pull has role in quakes:
http://www.bbc.com/news/science-environment-37350839
Moon's birth may have vaporized most of Earth, study shows:
http://www.space.com/34044-moon-birth-may-have-vaporized-earth.html
10% of Earth's wilderness vanished in the last 20 years:
http://www.techtimes.com/articles/177346/20160912/10-percent-of-earths-wilderness-vanished-in-the-last-20-years.htm
This August was the hottest one on record:
http://www.theverge.com/2016/9/12/12889182/climate-change-global-warming-august-hottest-record-nasa
About 200 Zika cases recorded in Thailand:
http://www.reuters.com/article/us-health-zika-thailand-idUSKCN11J17O
Why some women find good sleep tough to get:
http://www.upi.com/Health_News/2016/09/12/Why-some-women-find-good-sleep-tough-to-get/3121473728714/
Redeemed! I always said bacon was "good for you":
http://www.nytimes.com/2016/09/13/well/eat/how-the-sugar-industry-shifted-blame-to-fat.html
Today's Economic Calendar:
6:00 NFIB Small Business Optimism Index
8:55 Redbook Chain Store Sales
1:00 PM Results of $12B, 30-Year Note Auction
2:00 PM Treasury Budget
Notable earnings this afternoon after the bell: RLGT
And tomorrow before the open: PTSX, *CBRL*