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Apple Today - 3/15/2016 FOMC (AAPL)

seymour_greenz • March 15th 2016 09:34:09 AM

Good Morning,

NASDAQ Futures are down 19 with -18 Fair Value, S&P Futures are down 13 with -14 Fair Value and Dow Futures are down 95 as the FOMC meeting kicks off. Futures started off down early this morning and took a turn for the worse after 3am and are near the lows as we approach the open.

Asian markets closed mostly down today. China gained 0.17%, Hong Kong dropped 0.72% and Japan declined 0.68%. European markets are selling off today. The UK is currently down 0.7%, Germany is down 0.88% and France is down 0.96%.

Commodities are mostly down this morning. Oil is down 2.29%, natural gas is up 1.81% and gold is down 1.05%. Unleaded gas is down 2.08% and heating oil is down 1.69%. Metals are mostly down, except platinum. Meat is mixed. Cocoa, coffee, cotton, corn, wheat and soybeans are all down.

Europe shares track Asia lower after BOJ, focus turns to Fed. FOMC meeting begins today. Retail sales in US decline after January revised down. US producer prices fall, unchanged from a year ago. Manufacturing in New York expanded in March. Oil prices ease over uncertain supply. AAPL skyrockets up nearly 2 on notes from Morgan Stanley on increased iPhone demand and UBS on the March product event

MannKind Corporation (MNKD) reported a Q4 earnings loss yesterday afternoon and is down nearly 8% in pre-market.

Valeant Pharmaceuticals International, Inc. (VRX) announced an earnings miss and lowered forecast this morning and is down nearly 18%.

This afternoon after the bell, look for earnings from Avid Technology, Inc. (AVID), magicJack VocalTec Communications Ltd. (CALL), Eastman Kodak Co. (KODK) and Oracle Corporation (ORCL).

Tomorrow, Actuant Corporation (ATU) and Cheetah Mobile Inc. (CMCM) are expected to report.

AAPL had a bright day yesterday, keeping the 102 flame alive while gaining 0.25% on very low volume. AAPL opened down at 102 on moderate volume, quickly put in the day's low of 101.78 on more moderate volume, then made a dash for 102.5 on higher volume at 9:52am. By 10:10am AAPL retreated back towards 102 before going on to set a new intra-day high of 102.91 at 10:50am on relatively light volume. AAPL then dipped back to mid-102 where it remained for the rest of the day with periodic tests of the lower and upper 102 areas, all on incredibly low volume. AAPL ended the day above 102.5, more precisely up 26 cents at 102.52. AAPL gained an additional 8 cents in after-hours to 102.6.

This morning in pre-market, AAPL opened at 102.5 and momentarily dipped early on in conjunction with sour Futures. Later in the morning, however, AAPL skyrocketed up nearly 2 points after notes from Morgan Stanley on increased iPhone demand and from UBS on the upcoming March product event. AAPL soon after reached the mid-104 area later in the morning. AAPL is currently up 1.74 at 104.26 as we approach the open


Classic max-pain is 100.


Europe shares track Asia lower after BOJ, focus turns to Fed:
http://www.reuters.com/article/us-global-markets-idUSKCN0WH02W

Retail sales in US decline after January revised down:
http://www.bloomberg.com/news/articles/2016-03-15/retail-sales-in-u-s-fell-in-february-after-january-revised-down

US producer prices fall, unchanged from a year ago:
http://www.reuters.com/article/us-producer-prices-idUSKCN0WH1K6

Oil prices ease over uncertain supply:
http://in.reuters.com/article/global-oil-idINKCN0WH02K

Manufacturing in New York expanded in March:
http://www.nytimes.com/aponline/2016/03/15/us/politics/ap-us-empire-state.html

Investors bullish on energy?
http://www.nytimes.com/2016/03/15/business/dealbook/investors-increasingly-bullish-on-energy-sector.html?_r=0


Today's Economic Calendar:
FOMC meeting begins
8:30 Empire State Mfg Survey
8:30 Producer Price Index
8:30 Retail Sales
8:55 Redbook Chain Store Sales
10:00 Business Inventories
10:00 NAHB Housing Market Index
4:00 PM Treasury International Capital


Notable earnings after today's close: *AVID*, CAL, *CALL*, CHMI, CPRX, EGAS, EVOL, FEIM, GAIA, GVP, *KODK*, LXFR, MGMXF, MTEX, OHAI, OPRX, *ORCL*, REI, TERP, TWER, VEC, WLKR, WYY, XTNT

And tomorrow before the open: ALOT, ARCO, ARNGF, *ATU*, AXAS, BXE, CHU, *CMCM*, CRMD, CWCO, DSCI, IWSY, RNF, RTK, SGLB, STLJF, TENX, TINY, TIPT

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