Apple Today 12/14/2016 FOMC (AAPL)
seymour_greenz • December 14th 2016 08:54:11 AM
Good Morning,
S&P Futures are flat with +1 Fair Value, NASDAQ Futures are up 2 with +2 Fair Value and Dow Futures are down 7 on this big day as we await word on the Fed rate hike at 2pm. "Coincidentally" at the exact same time, titan Tech executives will be meeting in New York to discuss the future of the US tech industry including a challenging discussion on tech jobs and immigration.
The economic calendar is in overdrive this morning with Mortgage Applications, Producer Price Index, Retail Sales, Industrial Production, Business Inventories and capped off with Petroleum Inventories at 10:30am. After the appetizers wrap up, the real Fed main course begins at 2pm where everybody will be tuning in for the results like a hawk and for the curious interplay between the announcement and the tech meeting in NYC.
The earnings winner is Nordson Corporation (NDSN), up over 8.5% in pre-market while ABM Industries Incorporated (ABM) didn't fare as well and is down slightly.
Futures were down slightly in early morning hitting a low at 2:45am before bouncing back to flat territory and are just off the highs as we approach the open.
Asian markets ended mixed. China dropped 0.46%, Hong Kong went up 0.04% and Japan went up 0.02%. European markets are down. The UK is down 0.13%, Germany is down 0.18% and France is leading the decline, down 0.37%.
Commodities are mixed this morning. Oil is down 1.51%, natural gas is down 0.26% and gold is up 0.44%. Unleaded gas is down 1.82% and heating oil is down 0.83%. Metals are up. Meats are mixed. Coffee is up while cocoa, cotton, corn, wheat and soybeans are down.
Fed set to hike rates, policy outlook now hinges on new presidency. Countdown to first Fed hike in a year under way, focus shifting to 2017. Tech leaders to meet with President-elect.
Nordson Corporation (NDSN) reported Q4 results yesterday afternoon with adjusted earnings of $1.39 per share that beat expectations and is up over 8.5% in pre-market. ABM Industries Incorporated (ABM) announced adjusted Q4 earnings of 51 cents that met expectations and is down slightly.
This afternoon after the bell, look out for earnings from Oracle Corporation (ORCL), Pier 1 Imports Inc. (PIR).
Tomorrow morning before the open, Scholastic Corporation (SCHL), Rite Aid Corporation (RAD) are expected to report.
A leading bullish ORCLswing trade strategy is: When the 15 SMA is Above the 26 EMA AND the 39 day Smoothed Stochastics is Bearish, daily bars.
AAPL showed a mountain of strength yesterday, ending up 1.67% on higher than average volume. AAPL opened up at 113.83 to high volume and immediately set an intra-day low of 113.75 before climbing up to 115 before 10am on high volume. Before lunchtime, AAPL hiked up even further to the upper-115 area on fair volume and held the mid-115 area on moderate volume, setting an intra-day high of 115.92 at 1:35pm on mild volume. AAPL continued to hold mid-115 through late afternoon on moderate volume and dipped towards 115 into the close on heavy volume. AAPL ended the day up $1.89 at 115.19 and gained 9 more cents in after-hours to 115.28.
This morning in pre-market, AAPL opened lower and clawed back to mid-115, setting a pre-market high of 115.59 at 7:18am before slipping below 115 later in the morning. AAPL is currently down 24 cents at 114.95 as we approach the open.
Classic max-pain is 115. The FOMC announcement is today.
Fed set to hike rates, policy outlook now hinges on new presidency:
http://www.reuters.com/article/us-usa-fed-idUSKBN1430G4
Countdown to first Fed hike in a year under way, focus shifting to 2017:
http://www.reuters.com/article/us-global-markets-idUSKBN1422WQ
Tech leaders to meet with President-elect:
http://www.npr.org/sections/thetwo-way/2016/12/14/505512664/tech-leaders-to-meet-with-president-elect-trump
Bill Gates pushes green energy while building $1 billion fund:
https://www.bloomberg.com/news/articles/2016-12-12/bill-gates-pushes-green-energy-on-call-with-trump-while-building-1-billion-fund
Latest watchOS update bricks some Apple Watches:
http://arstechnica.co.uk/apple/2016/12/apple-watch-update-bricked-devices/
The 5 best features for your iPhone with iOS 10.2 update:
http://www.techtimes.com/articles/188751/20161214/ios-10-2-update-the-5-best-features-for-your-iphone.htm
The best TV streaming stick for under $50:
http://www.theverge.com/2016/12/14/13925744/tv-streaming-stick-4k-amazon-fire-roku-google-chromecast
Uber's self-driving cars start picking up passengers in San Francisco:
https://techcrunch.com/2016/12/14/ubers-self-driving-cars-start-picking-up-passengers-in-san-francisco/
AMD shows off Zen:
http://www.pcworld.com/article/3149051/components/amd-offers-more-proof-that-zen-now-renamed-ryzen-is-its-best-chip-in-a-decade.html
Long window life on Mars: hundreds of millions of years?
http://www.space.com/35018-mars-support-life-millions-years-curiosity-rover.html
Extraordinarily brilliant light may have been star shredded by a black hole:
http://www.csmonitor.com/Science/2016/1213/Extraordinarily-brilliant-light-may-have-been-star-shredded-by-a-black-hole
The Arctic just had its hottest year on record by far, scientists say:
https://www.washingtonpost.com/news/energy-environment/wp/2016/12/13/the-arctic-where-tillerson-and-exxon-want-to-drill-shattered-temperature-records-in-2016/
Monkey says?
http://www.npr.org/sections/health-shots/2016/12/09/504890630/say-what-monkey-mouths-and-throats-are-equipped-for-speech
Pokemon Go exercise impact "short-lived":
http://www.bbc.com/news/technology-38311371
Today's Economic Calendar:
7:00 MBA Mortgage Applications
8:30 Producer Price Index
8:30 Retail Sales
9:15 Industrial Production
10:00 Business Inventories
10:30 EIA Petroleum Inventories
2:00 PM FOMC Announcement
2:00 PM FOMC Forecast
2:00 PM Chairman Press Conference
Notable earnings this afternoon after the bell: ARWR, CIVI, INTL, LDR, ISSC, BLIN, ORIG, PURE, *ORCL*, APOG, *PIR*, LAKE, ATUSF
And tomorrow before the open: SAFM, EMP.A, *SCHL*, RMR, TRZBF, *RAD*