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Apple Today - 6/02/2016 (AAPL)

seymour_greenz • June 2nd 2016 09:28:52 AM

Good Morning,

NASDAQ Futures are down 7 with -4 Fair Value, S&P Futures are down 4 with -3 Fair Value and Dow Futures are down 27 on this very busy Thursday of economic data, OPEC and ECB. Futures were lower in early morning but nudged up after 4am to near even by 6:45am, then dropped a bit as we await the open.

Asian markets ended mixed. China gained 0.4%, Hong Kong went up 0.47% and Japan dropped 2.32%. European markets are mixed today. The UK is up 0.14%, Germany is down 0.2% and France is down 0.03%.

Commodities are mixed this morning. Oil is down 0.04%, natural gas is down 0.67% and gold is up 0.38%. Unleaded gas is up 1.05% and heating oil is up 0.60%. Metals are mixed. Meat is mixed. Cocoa, coffee, cotton, wheat and soybeans and are up while corn is down.

US companies add 173,000 jobs in May. Jobless claims unexpectedly fall as labor market tightens. OPEC agrees on no change in policy, no production ceiling.

Box (BOX) reported a Q1 earnings loss yesterday afternoon with some indications of slowing quarterly billings and is down nearly 8.5% in pre-market.

On the other hand, Ciena Corporation (CIEN) announced Q2 earnings that beat expectations by 7 cents and is up over 9% in pre-market.

This afternoon after the bell, look for earnings from Mad Catz Interactive, Inc (MCZ), Ambarella (AMBA) and Broadcom Limited (AVGO).


AAPL "took a spill" yesterday, dropping 1.4% on relatively light volume. AAPL opened at 98.98 to high volume and battled in the low-99 area on moderate volume before a small surge tagged the high of the day of 99.54 at 11:24am on low volume. AAPL quickly "poured" back down to the 99-area and eventually weakened, dropping to an intra-day low of 98.33 into the close at 3:56pm. AAPL ended the day down 1.4 at 98.46 and dropped an additional 16 cents in after-hours to 98.3.

This morning in pre-market, AAPL opened lower in conjunction with Futures and then struggled to hold 98. AAPL dipped futrher to a low of 97.62 later in the morning on a Goldman price target trim to 124 before bouncing slightly and is currently down 64 cents at 97.82 as we approach the open.


Classic max-pain is 99.


US companies add 173,000 jobs in May:
http://www.usnews.com/news/business/articles/2016-06-02/survey-us-companies-add-173-000-jobs-in-may

Jobless claims unexpectedly fall as labor market tightens:
http://www.reuters.com/article/us-usa-economy-idUSKCN0YO1I8

Saudis pledge not to shock oil market as OPEC debates policy:
http://www.reuters.com/article/us-opec-meeting-idUSKCN0YN3UV

Payday loans to be curtailed:
http://www.nytimes.com/2016/06/02/business/dealbook/payday-borrowings-debt-spiral-to-be-curtailed.html

Apple Car hints:
http://www.computerworld.com/article/3078335/apple-ios/apple-car-hints-from-mary-meeker-s-internet-trends-report.html

Apple readying new external 5K Display, may feature integrated GPU:
http://9to5mac.com/2016/06/01/apple-readying-new-external-5k-display-as-current-model-goes-out-of-stock-may-feature-integrated-gpu/

Google AI just "wrote" its first song
http://www.theverge.com/2016/6/1/11829678/google-magenta-melody-art-generative-artificial-intelligence

Google Cast is coming to every Google Fiber TV box:
http://www.theverge.com/2016/6/1/11829846/google-cast-fiber-tv-announced

Facebook knows what you mean:
http://www.bbc.com/news/technology-36434099

Get a full dose of Musk here:
http://www.theverge.com/2016/6/2/11837900/elon-musk-interview-code-conference-video-spacex-tesla

Has Lululemon "lost its way"?
http://www.forbes.com/sites/laurengensler/2016/06/01/lululemon-billionaire-founder-chip-wilson-slams-company-open-letter/#2206d5d65cb6

Uber, $3.5 billion and Saudi women:
http://www.forbes.com/sites/rebeccalindland/2016/06/01/why-ubers-3-5-billion-windfall-is-bad-news-for-some-women/#111907671604

500,000 Steam controllers sold:
http://www.cnet.com/uk/news/valve-steam-controller-hits-500000-in-sales/

King Tut's dagger is from outer space?
http://www.csmonitor.com/World/2016/0601/King-Tut-a-ruler-swathed-in-mystery-also-wielded-a-cosmic-dagger

Moth's dark secret:
http://www.bbc.com/news/science-environment-36424768

Earth's magnetic field "ironed out":
http://www.techtimes.com/articles/162458/20160602/scientists-iron-out-phenomenon-that-sustains-magnetic-field-of-earth.htm

FDA proposes guidelines for salt added to food:
http://www.nytimes.com/2016/06/02/health/fda-salt-guidelines-processed-foods-restaurants.html

Tic-tac, sir?
http://www.techtimes.com/articles/162211/20160531/fish-from-amazon-with-human-like-teeth-found-in-california.htm


Today's Economic Calendar:
Chain Store Sales
Fed's Evans: U.S. Economic and Monetary Policy
7:30 Challenger Job-Cut Report
8:15 ADP Jobs Report
8:30 Initial Jobless Claims
8:30 Gallup Good Jobs Rate
8:35 Fed's Powell speech
9:45 Bloomberg Consumer Comfort Index
10:30 EIA Natural Gas Inventory
11:00 EIA Petroleum Inventories
1:00 PM Fed's Kaplan speech
4:30 PM Money Supply
4:30 PM Fed Balance Sheet


Notable earnings this afternoon after the bell: *MCZ*, SB, BV, *AMBA*, *AVGO*, COO, IDT, CRDS, ZUMZ, FIVE, SIAF

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