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Apple Today - 3/07/2016 (AAPL)

seymour_greenz • March 7th 2016 09:28:43 AM

Good Morning,

Welcome back. NASDAQ Futures are down 15 with -20 Fair Value, S&P Futures are down 7 with -10 Fair Value and Dow Futures are down 33 on our first Monday and full week of March. Futures have been in the red all morning with the exception of a brief spike near 3:15am and have been near the morning lows since 5am.

Asian markets ended mixed today. China gained 0.81%, Hong Kong lost 0.08% and Japan dropped 0.61%. European markets are selling off today. The UK is currently down 1%, Germany is down 0.93% and France is down 0.91%.

Commodities are mostly up this morning. Oil is up 1.17%, natural gas is down 1.14% and gold is up 0.07%. Unleaded gas is up 0.92% and heating oil is up 1.38%. Metals are up. Meat is up. Cocoa, cotton, corn, wheat and soybeans are up while coffee is down.

Europe shares fall after Asia hits two-month high. Oil rallies to three-month high, analysts warn of glut.

This afternoon after the bell, look for earnings from Shake Shack (SHAK) and Urban Outfitters, Inc. (URBN).

Tomorrow, Dick's Sporting Goods, Inc. (DKS) and The J.G. Wentworth Company (JGW) are expected to report.

AAPL had a strong week, gaining 6.29% and 1.49% on Friday alone. On Monday, AAPL struggled to stay above 97 and closed in the upper-96 area. All that changed on Super Tuesday where AAPL sprinted up through a field of green to break the 100 barrier. AAPL continued to run on Wednesday and Thursday gaining nearly another full 2 points. AAPL opened up on Friday at 102.27, bounced around a bit, then quickly put in a low of 101.37 at 10:06am on low volume. AAPL then reversed thrusters to capture 103 shortly after 11am and kept on rocketing into orbit, peaking at 103.75 just before 2pm. Afterwards, gravity kicked in and AAPL drifted back down to the mid-102 area before OPEX landing at 103.01. AAPL dropped 2 cents in after-hours to 102.99.

This morning in pre-market, AAPL picked up from last week and defied Futures to break 103 later on in the morning before dipping slightly. AAPL is currently flat at 103.01 as we approach the open.


Classic max-pain is 98.


Oil rallies to three-month high, analysts warn of glut:
http://www.reuters.com/article/us-global-oil-idUSKCN0W9045

Europe shares fall after Asia hits two-month high, oil gains:
http://www.reuters.com/article/us-global-markets-idUSKCN0W901R

China’s money outflows slowed last month:
http://www.nytimes.com/2016/03/08/business/international/chinas-outflows-of-money-slowed-in-february.html

China February FX reserves fall:
http://in.reuters.com/article/us-china-economy-forex-reserves-int-idINKCN0W90P5

US restricts China's ZTE over alleged export violations over Iran:
http://in.reuters.com/article/zte-usa-iran-restriction-idINKCN0W91IF

Is BASF making a bid for DuPont?
http://www.bloomberg.com/news/articles/2016-03-06/basf-said-working-with-banks-to-weigh-counter-bid-for-dupont

Alibaba's Ant Financial is looking for more than crumbs:
http://www.reuters.com/article/us-alibaba-antfinancial-idUSKCN0W91EF

Invest like Buffett:
http://www.nasdaq.com/article/how-to-create-a-powerhouse-portfolio-like-buffetts-cm589062

Bloomberg's next move:
http://www.csmonitor.com/Business/2016/0307/What-s-Michael-Bloomberg-s-next-move

Apple's head software engineer refuses to "turn back the clock" on iPhone security:
http://www.cnet.com/news/apple-head-software-engineer-refuses-to-turn-back-clock-for-fbi-on-iphone-security/

Microsoft Slacks out of deal:
http://www.thenewsindependent.com/microsoft-no-longer-keen-acquiring-slack-gates-nadella-say-not-good-idea/10363/

Amazon makes U-turn over Fire tablet encryption:
http://www.bbc.com/news/technology-35744338

BMW's self driving Vision:
http://www.cnet.com/roadshow/news/bmw-vision-next-100/

Or you could drive a wooden block:
http://www.techtimes.com/articles/139061/20160307/toyotas-electric-wooden-setsuna-to-be-unveiled-at-milan-design-week.htm

Now you're cooking!
http://www.cnet.com/products/panasonic-countertop-induction-oven/

Presidential candidates on Social Security changes:
http://www.usatoday.com/story/money/personalfinance/2016/03/07/how-presidential-candidates-would-change-social-security/81178142/

Chicken nuggets recalled over plastic contamination:
http://abcnews.go.com/US/chicken-nuggets-recalled-plastic-pieces-contamination/story


Today's Economic Calendar:
8:30 Gallup US Consumer Spending Measure
10:00 Labor market condition index
12:30 PM TD Ameritrade IMX
3:00 PM Consumer Credit


Notable earnings after today's close: ACRX, ADUS, AFH, AMID, APTS, ATAX, BTN, CASY, CTT, DGLY, FNHC, HCCI, HIL, ICFI, JONE, NEWT, OTEL, OTIC, PCTI, PLOW, *SHAK*, SSW, TEDU, THO, TRMLF, UNFI, *URBN*, XNCR

And tomorrow before the open: ALARF, ATRS, ATTO, BITA, CEMI, CSUWF, *DKS*, EGLT, FLY, HCOM, *JGW*, JW.A, KLXI, MKGAY, MVIS, NAV, NCT, NX, SCMP, SGA, SOL, TISA, WLB

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