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Apple Today - 6/06/2016 (AAPL)

seymour_greenz • June 6th 2016 09:28:23 AM

Good Morning,

Welcome back. NASDAQ Futures are up 8 with +8 Fair Value, S&P Futures are up 4 with +4 Fair Value and Dow Futures are up 41 as we start the first full week of June and a very busy day for Janet Yellen. Futures were lower in early morning and dipped to their lowest point just before 3am before bouncing to turn green and are near the highs as we await the open.

Asian markets ended mostly down. China dropped 0.16%, Hong Kong gained 0.40% and Japan lost 0.37%. European markets are mostly up today. The UK is up 1.05%, Germany is up 0.12% and France is down 0.10%.

Commodities are nearly all up this morning. Oil is up 1.11%, natural gas is up 1.21% and gold is up 0.19%. Unleaded gas is up 0.06% and heating oil is up 0.80%. Metals are up. Meat is up. Cocoa is down while coffee, cotton, corn, wheat and soybeans are up.

At 12:30 p.m ET today, Federal Reserve Chair Janet Yellen is due to give a speech in Philadelphia which investors will watch very closely following Friday's surprisingly bad jobs data. Yellen faces fine balance on Fed rate hike after job growth tumbles.

Tomorrow morning, HD Supply (HDS), Navistar International Corporation (NAV), Valeant Pharmaceuticals International, Inc. (VRX) and The Michaels Companies (MIK) are expected to report.

AAPL had a short but taxing week, dropping 2.42% on relatively low volume. On Tuesday, despite an early pop AAPL dropped below the 100 water line and dipped down to the upper-98 area before bouncing back up to the upper-99 area. On Wednesday, AAPL spilled further down from 100 to mid-98. On Thursday, AAPL dipped into the upper-96 area and then bounced into the mid- 97 area. On Friday, AAPL opened near 98 on moderately high volume, hitting a high of 98.27 at 9:32am and a low shortly after of 97.45 at 10:12am and subsequently hung around 98 in a tight range all day with the OPEX dart landing squarely within pennies of 98. AAPL ended the day up 20 cents at 97.92 and gained an additional 3 cents in after-hours to 97.95.

This morning in pre-market, AAPL appeared to show promise by opening up above 98 but sold off later in the morning. AAPL is currently down 7 cents at 97.85 as we approach the open.


Classic max-pain is 99.


Yellen faces fine balance on Fed rate hike after job growth tumbles:
http://www.reuters.com/article/us-usa-fed-yellen-idUSKCN0YS142

Rate cut limits weigh on inflation, hampering cbanks:
http://in.reuters.com/article/ecb-research-inflation-idINL8N18Y26R

China pushes back against US complaints of industrial overcapacity:
http://www.nytimes.com/2016/06/07/business/international/china-us-economy-overcapacity-complaints.html

Devon to sell Oil and gas assets for nearly $1 Billion:
http://www.bloomberg.com/news/articles/2016-06-06/devon-energy-to-sell-oil-and-gas-assets-for-almost-1-billion

WWDC 2016 preview rumors:
http://9to5mac.com/2016/06/03/wwdc-2016-rumors-apple-siri-hardware/

2 WWDC top 10 lists:
http://www.fastcompany.com/3060377/10-ios-features-wed-love-to-see-apple-announce-at-wwdc
http://www.zdnet.com/article/ios-10-ten-features-it-needs-to-stay-ahead-of-android/

Zuckerberg got hacked:
http://www.pcworld.com/article/3079355/hackers-breach-social-media-accounts-of-mark-zuckerberg-and-other-celebrities.html

Is Facebook listening through your phone's microphone?
http://www.independent.co.uk/life-style/gadgets-and-tech/news/facebook-recording-rumours-dismissed-by-company-which-says-it-only-listens-for-specific-features-a7067131.html

Model 3 may be a self-driving car?
http://www.zdnet.com/article/teslas-elon-musk-hints-model-3-may-be-fully-autonomous/

Mercedes-Benz May sales up 13 pct on compact cars, SUVs:
http://in.reuters.com/article/mercedes-vehicleregistrations-idINF9N18H00A

Are these the perfect headphones?
http://www.theverge.com/circuitbreaker/2016/6/5/11861356/bose-quietcomfort-35-quietcontrol-30-soundsport-announced-pricing

Can you steal me now?
http://www.cnet.com/news/verizons-can-you-hear-me-now-guy-is-back-with-sprint/

New RNA-snipping Crispr gene-editing system may help treat Huntington's and other diseases:
http://www.techtimes.com/articles/162951/20160605/new-rna-snipping-crispr-gene-editing-system-may-help-treat-huntingtons-and-other-diseases.htm

Satellite data shines light on hidden pollution:
http://www.csmonitor.com/Science/2016/0601/Satellite-data-shines-light-on-hidden-pollution

Bionic leaf converts energy from our sun better than nature does:
http://www.csmonitor.com/Science/2016/0603/Bionic-leaf-converts-energy-from-our-sun-better-than-nature-does

Fish eat plastic like teens eat fast food:
http://www.bbc.com/news/science-environment-36435288

Are we are all just simulations?
http://qz.com/699518/we-talked-to-the-oxford-philosopher-who-gave-elon-musk-the-theory-that-we-are-all-computer-simulations/

The birth of baby dragons:
http://www.csmonitor.com/Environment/2016/0603/Birth-of-baby-dragons-in-ancient-cave-in-Slovenia

Antibody-based therapy shows promise against stomach cancer:
http://www.upi.com/Health_News/2016/06/06/Antibody-based-therapy-shows-promise-against-stomach-cancer/5761465188216/

Don't want Zika? Maybe pass on the beer:
http://www.times-standard.com/general-news/20160605/tips-to-avoiding-mosquito-bites-beer-could-be-a-lure


Today's Economic Calendar:
2:15 Fed's Rosengren speech
8:30 Gallup US Consumer Spending Measure
10:00 Labor market condition index
12:30 PM TD Ameritrade IMX
12:30 PM Janet Yellen speech
2:00 PM Janet Yellen in a discussion with Fed’s Harker


Notable earnings this afternoon after the bell: COVS, CASY, THO, UNFI, SIGM, LAYN, XTLY, GIGA

And tomorrow before the open: *HDS*, *NAV*, *VRX*, *MIK*, HOFT, SWFT, IKGH, OCC, VNCE, WMS

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