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Apple Today - 4/12/2016 (AAPL)

seymour_greenz • April 12th 2016 09:28:42 AM

Good Morning,

NASDAQ Futures are up 12 with -8 Fair Value, S&P Futures are up 6 with -7 Fair Value and Dow Futures are up 29 on this busy Tuesday of economic data. Despite a sour ending to yesterday, Futures gained steam in early morning with a brief dip into the red near 4am, then resumed positive action and are not far from the morning highs as we await the open.

Asian markets were mostly up. China dropped 0.34%, Hong Kong gained 0.3% and Japan jumped up 1.13%. European markets are edging up today. The UK is currently up 0.03%, France is up 0.04% and Germany is leading the advance, up 0.24%.

Commodities are mostly up this morning. Oil is up 0.59%, natural gas is up 2.14% and gold is up 0.28%. Unleaded gas is up 0.25% and heating oil is up 1.29%. Metals are up. Meat is down. Cocoa, coffee, cotton, corn, wheat and soybeans are all up.

US small business confidence hits new two-year low. IMF warns of global stagnation as it cuts growth outlook again.

Alcoa, Inc. (AA) reported Q1 earnings yesterday afternoon with a 70% drop in profit and is down over 3% in pre-market.

Fastenal Company (FAST) announced Q1 earnings meeting profit forecasts and is down nearly 4%. On the other hand, Perry Ellis International Inc. (PERY) reported Q4 earnings with an in-line pre-warned loss and confirmed FY17 guidance and is up over 3%.

This afternoon after the bell, look out for earnings from CSX Corporation (CSX).

Tomorrow morning, Flowers Foods, Inc. (FLO) and JPMorgan Chase & Co. (JPM) are expected to report.

What goes up, AAPL bounced up above the surface to mid-110 like a sparkling droplet of hope only to concede to gravity and fall back to 109 for a still impressive gain of 0.33% on mild volume. AAPL opened up at 108.97 on moderate volume, put in a low of 108.83 and quickly shot up to mid-110 within 30 minutes on relatively high volume. AAPL peaked at 110.61 shortly after and then fell to the upper-109 area before noon and hung around on very light volume in an attempt to regain 110. After 3pm AAPL sold off sharply on low volume to 109 and ended intra-day up 36 cents. AAPL dropped an additional 34 cents in after-hours to 108.68.

This morning in pre-market, AAPL opened up in conjunction with Futures and gravitated to the mid-109 area with a high of 109.65 at 8:48am. AAPL is currently up 47 cents at 109.49 as we approach the open.


Classic max-pain is 100.


US small business confidence hits new two-year low:
http://www.reuters.com/article/us-economy-sentiment-idUSKCN0X90YP

Harker says Fed should wait for stronger inflation before raising rates:
http://www.reuters.com/article/usa-fed-harker-idUSN9N16H00T

IMF warns of global stagnation as it cuts growth outlook again:
http://www.bloomberg.com/news/articles/2016-04-12/imf-warns-of-global-stagnation-as-it-cuts-growth-outlook-again

EU seeks more tax details from big firms:
http://www.bbc.com/news/business-36025133

Saudi rating cut for 1st time at Fitch on lower oil prices:
http://www.bloomberg.com/news/articles/2016-04-12/saudi-arabia-rating-cut-at-fitch-outlook-remains-negative

Puerto Rico's new debt proposal:
http://www.nytimes.com/2016/04/12/business/dealbook/puerto-rico-aims-to-appease-congress-with-new-debt-proposal.html

Goldman may save $1 billion in settlement:
http://www.nytimes.com/2016/04/12/business/dealbook/goldman-sachs-to-pay-5-1-billion-in-mortgage-settlement.html

Video captures giant sinkhole collapse in California neighborhood:
http://abcnews.go.com/US/video-captures-giant-sinkhole-collapse-ca-neighborhood/story?id=38325129

Hands on HTC 10:
http://www.pcmag.com/article/343594/hands-on-with-the-htc-10

Facebook Messenger for iOS gains native Dropbox support:
http://www.macrumors.com/2016/04/12/facebook-messenger-dropbox-support/

Microsoft reveals new luxurious Surface Signature Type Cover:
http://www.theverge.com/2016/4/12/11412808/microsoft-surface-signature-type-cover

Analog photography is not dead:
http://www.techtimes.com/articles/149430/20160412/analog-photography-is-not-dead-impossible-project-unwraps-i-1-its-own-polaroid-type-camera.htm


Today's Economic Calendar:
6:00 NFIB Small Business Optimism Index
8:30 Import/Export Prices
8:55 Redbook Chain Store Sales
9:00 Fed's Harper: Economic Outlook
1:00 PM Results of $24B, 3-Year Note Auction
2:00 PM Treasury Budget
3:00 PM Fed's Williams: Monetary Policy
4:00 PM Fed's Lacker speech


Notable earnings after today's close: ADTN, *CSX*, DTEA, LAYN

And tomorrow before the open: *FLO*, CJREF, *JPM*, TITN

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