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Apple Today - 3/24/2016 (AAPL)

seymour_greenz • March 24th 2016 09:28:17 AM

Good Morning,

NASDAQ Futures are down 22 with -18 Fair Value, S&P Futures are down 11 with -9 Fair Value and Dow Futures are down 80 on a Thursday busy with economic data. Futures have been declining throughout the morning and are near the low as we await the open.

Asian markets closed down today. China dropped 1.63%, Hong Kong fell 1.31% and Japan dropped 0.64%. European markets are also down today. The UK is currently down 1.38%, Germany is down 1.34% and France is leading the decline, down 1.76%.

Commodities are mostly down this morning. Oil is down 2.11%, natural gas is down 0.33% and gold is down 0.15%. Unleaded gas is down 0.86% and heating oil is down 0.9%. Metals are mixed. Meat is down. Coffee, cocoa, cotton, corn, wheat and soybeans are all down.

Global stocks down as US rate speculation lifts dollar. US jobless claims rise, shows labor market. US durable goods orders fall as dollar strength lingers. Oil slides on mounting US stockpiles, strong dollar.

KB Home (KBH) reported a profitable Q1 yesterday with an optimistic outlook and is up nearly 6%.

Accenture plc (ACN) is up nearly 1% after announcing earnings topping Q2 forecasts this morning.

This afternoon after the bell, look for earnings from Cosi, Inc. (COSI) and GameStop Corp. (GME).

AAPL sparked up an attempt to push above 107 but wound up dropping 0.55% late in the day on very low volume. AAPL opened lower at 106.46 to relatively light volume and made an immediate dash to turn green but faltered and dipped to the low-106 area on moderate volume before making a move up after 11am on low volume that peaked at 107.07 at 12:32pm. AAPL struggled to stay green and wound up dipping into negative after 2pm and slipping down to 106 on moderately low volume into the close. AAPL closed the day down 59 cents at 106.13. Despite a big spike to 107.13 in after-hours, AAPL dropped 1 cent to end at 106.12.

This morning in pre-market, AAPL opened lower in conjunction with worsening Futures and quickly dropped from 106 to the upper-105 area where it has remained in a narrow range all morning. AAPL is currently down 41 cents at 105.72 as we approach the open.


Classic max-pain is 105.


Global stocks down as US rate speculation lifts dollar:
http://www.bloomberg.com/news/articles/2016-03-23/resurgent-dollar-hits-asian-stock-outlook-as-crude-extends-slump

US jobless claims rise, shows labor market:
http://www.reuters.com/article/us-usa-economy-idUSKCN0WQ1B1

US durable goods orders fall as dollar strength lingers:
http://www.reuters.com/article/us-durable-goods-idUSKCN0WQ1BA

Oil slides on mounting US stockpiles, strong dollar:
http://in.reuters.com/article/us-global-oil-idINKCN0WQ036

Is another US rate hike coming?
http://www.reuters.com/article/usa-fed-bullard-idUSN9N15H01X

Accenture raises revenue forecast after strong Q2:
http://in.reuters.com/article/us-accenture-results-idINKCN0WQ12U

Amazon pays equally:
http://www.techtimes.com/articles/143679/20160324/no-salary-gap-here-amazon-pays-men-women-minorities-equally.htm

Starboard seeks to oust Yahoo's board:
http://www.nytimes.com/2016/03/25/business/dealbook/starboard-value-plans-to-oust-yahoos-board.html

Pebble laying off 25% of its workforce:
http://www.zdnet.com/article/wearables-in-flux-pebble-is-laying-off-25-percent-of-its-workforce/

Homeownership is increasingly difficult for average Americans:
http://www.reuters.com/article/us-usa-housing-realtytrac-idUSKCN0WQ09L

Watch out for tax scammers:
https://www.washingtonpost.com/news/powerpost/wp/2016/03/24/watch-out-for-tax-scammers-who-have-more-time-to-take-your-money/

Apple's iPhone SE and 9.7-inch iPad Pro now available for preorder in 13 territories:
http://appleinsider.com/articles/16/03/24/apples-iphone-se-and-97-inch-ipad-pro-now-available-for-preorder-in-13-territories

Israeli firm helping FBI with encrypted iPhone:
http://www.reuters.com/article/us-apple-encryption-cellebrite-idUSKCN0WP17J

Facebook now detecting imposters:
http://www.pcmag.com/news/343185/facebook-now-automatically-detects-imposter-accounts

Microsoft AI chatbot shut down for tweeting racist messages:
http://www.independent.co.uk/life-style/gadgets-and-tech/news/tay-tweets-microsoft-ai-chatbot-posts-racist-messages-about-loving-hitler-and-hating-jews-a6949926.html

Next-Gen Toyota Prius plug-in review:
http://www.pcmag.com/news/343182/toyota-rolls-out-next-gen-plug-in-prius


Today's Economic Calendar:
8:30 Durable Goods
8:30 Initial Jobless Claims
9:45 PMI Services Index Flash
9:45 Bloomberg Consumer Comfort Index
10:30 EIA Natural Gas Inventory
11:00 Kansas City Fed Mfg Survey
4:30 PM Money Supply
4:30 PM Fed Balance Sheet


Notable earnings after today's close: AEHR, ARMZF, CDNA, *COSI*, CYCC, *GME*, HTGM, KZ, PYDS, SBS

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