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Apple Today - 4/07/2016 FED (AAPL)

seymour_greenz • April 7th 2016 09:29:47 AM

Good Morning,

NASDAQ Futures are down 22 with -22 Fair Value, S&P Futures are down 11 with -10 Fair Value and Dow Futures are down 82 on this April Thursday busy with economic data. Futures have deteriorated significantly throughout the morning and are near the lows as we await the open.

Asian markets ended mixed. China dropped 1.38%, Hong Kong gained 0.29% and Japan went up 0.22%. European markets are down today. The UK is currently down 0.22%, Germany is down 0.34% and France is leading the decline, down 0.4%.

Commodities are mixed this morning. Oil is down 0.21%, natural gas is up 0.42% and gold is up 1.11%. Unleaded gas is up 0.24% and heating oil is up 0.26%. Metals are up except copper. Meat is mostly up. Coffee cotton, corn are up while cocoa, wheat and soybeans are down.

Fewer Americans filed for unemployment benefits last week. Fed officials divided over April rate hike. China foreign exchange reserves rise for 1st time in 5 months.

Bed Bath & Beyond Inc. (BBBY) reported Q4 earnings yesterday that beat expectations while declaring a dividend and is up nearly 3% in pre-market.

ConAgra Foods, Inc. (CAG) announced Q3 earnings this morning that exceeded expectations and is up over 2.5%. CarMax Group (KMX) reported Q4 earnings that beat expectations and is up nearly 2.5% in pre-market.

This afternoon after the bell, look for earnings from Ruby Tuesday, Inc. (RT) and WD-40 Company (WDFC).


AAPL spent the morning piecing together a plan and then really "revved the engine" later in the afternoon to a gain of 1.05% on relatively low volume. AAPL opened up at 110.22 to moderate volume and soon after took a stressful dip to 109.20 at 10:30 on higher volume before recovering back to green shortly afterwards and spending the rest of the morning and most of the afternoon in the lower-110 area. AAPL saw some significant improvement in the last hour into the close, running up around 1 point to close at the high of the day. AAPL ended the day up 1.15 at 110.96 and dropped 8 cents in after-hours to 110.88, though there was an odd rogue low volume spike at 5:32pm to 114.05, perhaps a rookie market order or fat finger error.

This morning in pre-market, AAPL's fine momentum from yesterday afternoon weakened in conjunction with worsening Futures. AAPL spent most of the morning in the mid-110 area with some outside trades near 110 and 111. AAPL is currently down 50 cents at 110.46 as we approach the open.


Classic max-pain is 108.


Fewer Americans filed for unemployment benefits last week:
http://www.bloomberg.com/news/articles/2016-04-07/fewer-americans-filed-for-unemployment-benefits-last-week

Fed officials divided over April rate hike:
http://money.cnn.com/2016/04/06/news/economy/fed-minutes-march/

China foreign exchange reserves rise for 1st time in 5 months:
http://www.bloomberg.com/news/articles/2016-04-07/china-foreign-exchange-reserves-rise-for-first-time-in-5-months

Panama papers leak casts light on a law firm founded on secrecy:
http://www.nytimes.com/2016/04/07/world/americas/panama-papers-leak-casts-light-on-a-law-firm-founded-on-secrecy.html?_r=0

Austrian banker resigns after report:
http://www.bloomberg.com/news/articles/2016-04-07/austrian-banker-resigns-after-panama-liechtenstein-report

Mega-deal collapse a Q2 wake-up for merger-arb hedge funds:
http://in.reuters.com/article/uk-allergan-m-a-pfizer-hedgefunds-idINKCN0X40TP

US vows to crack down on shell companies as tax dodges:
http://money.cnn.com/2016/04/07/news/economy/us-treasury-shell-companies/

Nokia facing huge job cuts:
http://in.reuters.com/article/nokia-alcatellucent-redundancies-idINKCN0X310S

Sausage fight at Daimler shareholders meeting!
http://www.telegraph.co.uk/business/2016/04/07/sausage-fight-daimler-shareholders-come-to-blows-over-the-buffet/

Apple Watch Hermes bands to be sold separately, come in 4 new colors on April 19:
http://appleinsider.com/articles/16/04/07/apple-watch-hermes-bands-to-be-sold-separately-come-in-4-new-colors-on-april-19

The FBI bought a tool to hack iPhone 5c:
http://fortune.com/2016/04/07/comey-apple-fbi/

Amazon expands free same-day delivery in greater Sacramento:
http://www.sacbee.com/news/business/article70277692.html

Huawei's new flagship phone review:
http://www.wired.com/2016/04/huawei-p9-leica-dual-cameras/

Anti-virus... for your car?
http://www.pcworld.com/article/3053501/your-cars-computers-might-soon-get-malware-protection.html

Self-driving truck convoy completes its first major journey across Europe:
http://www.theverge.com/2016/4/7/11383392/self-driving-truck-platooning-europe

Massive black hole catches astronomers off guard:
http://www.csmonitor.com/Science/2016/0406/Why-this-massive-black-hole-caught-astronomers-off-guard

Nearby supernova explosions may have affected human evolution:
http://www.scientificamerican.com/article/nearby-supernova-explosions-may-have-affected-human-evolution/

Certain species survived mass extinctions using live fast, die young strategy:
http://www.techtimes.com/articles/147691/20160407/certain-species-survived-mass-extinctions-using-live-fast-die-young-strategy.htm

Natural World Heritage sites under threat, stressing local economies:
http://www.csmonitor.com/Environment/2016/0406/Natural-World-Heritage-sites-under-threat-stressing-local-economies

Can we use "reverse photosynthesis" to make biofuels?
http://www.csmonitor.com/Science/2016/0405/Can-we-use-reverse-photosynthesis-to-make-biofuels

IBM Watson wants to understand cancer:
http://www.wired.co.uk/news/archive/2016-04/07/ibm-watson-health-cancer-kyu-rhee

Chemo may prolong lives of some brain cancer patients:
http://www.upi.com/Health_News/2016/04/06/Study-Chemo-may-prolong-lives-of-some-brain-cancer-patients/2091459986596/

Full-fat dairy food may cut obesity, diabetes risk and tastes better too!
http://www.techtimes.com/articles/147150/20160407/full-fat-dairy-food-may-cut-obesity-diabetes-risk.htm


Today's Economic Calendar:
Chain Store Sales
8:30 Initial Jobless Claims
9:45 Bloomberg Consumer Comfort Index
10:30 EIA Natural Gas Inventory
3:00 PM Consumer Credit
4:30 Money Supply
4:30 Fed Balance Sheet
5:30 PM Janet Yellen in conversation with former Fed Chairs
8:15 PM Fed's George: Economic Outlook


Notable earnings after today's close: ANGO, CCNI, DLTH, FFHL, PSMT, RECN, *RT*, SEAC, *WDFC*

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