Apple Today 1/31/2017 FOMC (AAPL)
seymour_greenz • January 31st 2017 11:23:07 AM
Good Morning,
S&P Futures are down 4 with -4 Fair Value, NASDAQ Futures are down 9 with -11 Fair Value and Dow Futures are down 31 on this final day of January, action-packed with tons of earnings, including Apple after the bell, and a kickoff for a 2-day FOMC meeting to discuss rates.
This morning's Economic Calendar includes: Employment Cost Index, Redbook Chain Store Sales, S&P Corelogic Case-Shiller Home Price Index, Chicago PMI, Consumer Confidence and State Street Investor Confidence Index followed by Farm Prices this afternoon. The FOMC meeting begins today.
Earnings winner Sprint Corporation (S) is up over 2% while Under Armour, Inc. Class C (UA) is down over 24%.
Futures were down in early morning and recovered back to near-even territory shortly by 5am but then slipped back down and are off the lows as we approach the open.
Asian markets ended down. China and Hong Kong were closed for Chinese New Year, and Japan dropped 1.69%. European markets are up. Germany is up 0.14%, France is up 0.43% and the UK is leading the advance, up 0.60%.
Commodities are mixed this morning. Oil is up 0.46%, natural gas is down 2.26% and gold is up 0.85%. Unleaded gas is up 1.81% and heating oil is up 0.96%. Metals are up strong. Meats are down. Cocoa, cotton, corn and soybeans are up while coffee and wheat are down.
US home prices increase faster than expected in November. Fed likely to keep rates steady. Eurozone inflation jumps in January.
Integrated Device Technology, Inc. (IDTI) reported Q3 results yesterday afternoon with adjusted earnings of 35 cents per share that exceeded expectations and initially dropped yesterday but has yet to react in pre-market. Rambus, Inc. (RMBS) annouced a Q4 loss that met expectations and also dropped yesterday but has yet to react this morning.
Exxon Mobil Corporation (XOM) is up nearly 0.5% in pre-market after beating Q4 forecasts this morning with adjusted earnings of 90 cents per share. MasterCard Incorporated (MA) reported Q4 results and is down nearly 2% as revenue misses expectations. Pfizer Inc. (PFE) announced a profitable Q4 and is down nearly 1%. Sprint Corporation (S) is up over 2% after reporting a Q3 loss but adding subscribers. United Parcel Service, Inc. (UPS) announced a Q4 loss that missed expectations and is down over 4.5%. Valero Energy Corporation (VLO) reported Q4 results with net income of 81 cents per share that beat expectations and is down over 1%. Xerox Corporation (XRX) announced Q4 results with adjusted earnings of 25 cents per share that met expectations and is down nearly 1.5%. Under Armour, Inc. Class C (UA) is down over 24% after reporting Q4 earnings that missed expectations. Thermo Fisher Scientific Inc. (TMO) reported Q4 results with adjusted earnings of $2.41 per share that exceeded expectations and is up nearly 2%. Coach, Inc. (COH) is up slightly after reporting Q2 results. Harley-Davidson, Inc. (HOG) announced Q4 results that missed expectations and is down nearly 6%.
This afternoon after the bell, look out for earnings from Overstock.com, Inc. (OSTK), Advanced Micro Devices, Inc. (AMD), Apple Inc. (AAPL), Aflac Incorporated (AFL), United States Steel Corporation (X) and Electronic Arts Inc. (EA).
Tomorrow morning before the open, Volvo AB ADR B (VOLVY), Ingersoll-Rand plc (IR), Tupperware Brands Corporation (TUP), Baxter International Inc (BAX), Avery Dennison Corporation (AVY), Pitney Bowes Inc. (PBI), Dominion Resources, Inc. (D) are expected to report.
A leading Bullish AAPL swing trade strategy is: When MACD experiences a Bullish crossover with settings of Fast 18, Slow 26 and Signal 9, daily bars.
AAPL revved along the 121-line yesterday, ending down 0.26% on moderate volume. AAPL opened down at 120.93 to high volume and briefly popped up to the low-121 area at 9:40am on high volume only to drop to an intra-day low of 120.66 just over 10 minutes later at 9:52am on strong volume. AAPL bounced back to 121 and marched back up to low-121 area on moderate volume and then held a narrow range through lunch and well into the afternoon on low volume before popping sharply into the close and setting an intra-day high of 121.63 at the close on high volume. AAPL ended the day down 32 cents at 121.63 and gained an additional 22 cents in after-hours to 121.85.
This morning in pre-market, AAPL picked up with yesterday's close and quickly moved up above 121.5, setting a pre-market high of 121.70 at 7:16am before slipping into negative territory later in the morning as AAPL earnings approach just hours away. AAPL is currently down 61 cents at 121.02 as we approach the open.
Classic max-pain is 120. The FOMC meeting begins today.
US home prices increase faster than expected in November:
http://www.reuters.com/article/us-usa-economy-homes-index-idUSKBN15F1P6
Fed likely to keep rates steady:
http://www.reuters.com/article/us-usa-fed-idUSKBN15F0E8
Eurozone inflation jumps in January:
http://www.bbc.com/news/business-38807942
Exxon Mobil earnings up despite $2 billion charge:
http://www.usatoday.com/story/money/2017/01/31/exxon-mobil-fourth-quarter-earnings-oil-gas/97276146/
UPS tumbles as currency drag delivers blow to profit forecast:
https://www.bloomberg.com/news/articles/2017-01-31/ups-falls-short-of-profit-estimates-as-cost-increases-quicken
Shares of Under Armour are plummeting today:
http://fortune.com/2017/01/31/under-armour-sales-soften/
What to expect from Apple's Q1 earnings:
https://qz.com/898078/what-to-expect-from-apples-aapl-q1-2017-earnings/
Windows 10 Cloud is Microsoft's Chrome OS alternative:
http://www.theverge.com/2017/1/31/14450780/microsoft-windows-10-cloud
Galaxy S8 concept render:
http://www.tomsguide.com/us/galaxy-s8-render-infinity-display,news-24376.html
Wal-Mart scraps program that competed with Amazon Prime:
https://www.bloomberg.com/news/articles/2017-01-31/wal-mart-ditches-subscription-model-for-free-two-day-shipping-iyl23ee7
6 questions Snap's IPO filings will hopefully answer:
https://qz.com/898597/six-questions-snaps-ipo-filings-will-hopefully-answer/
A mysterious AI just crushed the best human players at poker:
https://www.wired.com/2017/01/mystery-ai-just-crushed-best-human-players-poker/
Signatures of Earthly life may be etched in moon rock:
http://www.csmonitor.com/Science/Spacebound/2017/0130/Signatures-of-Earthly-life-may-be-etched-in-moon-rock
Asteroid whizzing by Earth 6 times closer than the moon:
https://www.cnet.com/news/asteroid-2017-bh30-whizzing-by-earth-at-six-times-closer-than-the-moon/
Private space station coming in 2020?
https://www.scientificamerican.com/article/private-space-station-coming-soon-company-aiming-for-2020-launch/
The entire universe may be a hologram:
http://www.usatoday.com/story/tech/sciencefair/2017/01/30/universe-hologram-illusion/97249856/
Baby dolphin dies after tourists pull it out of the water for selfies:
https://www.cnet.com/au/news/baby-dolphin-dies-after-tourists-pull-it-out-of-the-water-for-selfies/
Kids are closer to pets than their own siblings:
http://www.techtimes.com/articles/195123/20170130/kids-are-closer-to-pets-than-their-own-siblings-study.htm
What science says about snacking and breakfast:
http://time.com/4651898/heres-when-you-should-eat-for-heart-health/
Busy, stimulated minds better at fighting dementia:
http://www.upi.com/Health_News/2017/01/30/Busy-stimulated-minds-better-at-fighting-dementia-study-says/8771485832555/
Today's Economic Calendar:
FOMC meeting begins
8:30 Employment Cost Index
8:55 Redbook Chain Store Sales
9:00 S&P Corelogic Case-Shiller Home Price Index
9:45 Chicago PMI
10:00 Consumer Confidence
10:00 State Street Investor Confidence Index
3:00 Farm Prices
Notable earnings this afternoon after the bell: ACXM, *OSTK*, MANH, BDN, FBHS, *AMD*, *AAPL*, EQR, *AFL*, ARAY, BXP, CHRW, MTSI, RNR, WNC, WRB, *X*, MSTR, NEU, ALGN, APC, CACC, OLN, ILMN, MTCH, OCLR, PLT, TNAV, VIAV, FICO, BBOX, *EA*, KTCC, BOOT
And tomorrow before the open: USG, *VOLVY*, *IR*, OMN, CE, BABY, *TUP*, JCI, SDVKF, *BAX*, VNTV, ANTM, *AVY*, EVR, GIB, SLAB, SLGN, ELUXF, MO, MPLX, MTH, ADP, BBVA, MPC, PPL, KT, SPR, CEVA, *PBI*, WEC, *D*, ENR, MBUU, MTOR, SIEGY, BIP, ITG, MDC, TKPHF, LNDNF, HTHIY, MNRO, GHM, RHHBY, SR, LFUS, CLPBF, KLBAY, UNBLF