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Apple Today 06/14/2016 FOMC (AAPL)

seymour_greenz • June 14th 2016 09:29:58 AM

Good Morning,

NASDAQ Futures are down 15 with -10 Fair Value, S&P Futures are down 6 with -6 Fair Value and Dow Futures are down 44 as the jitters, including Brexit concerns, carry over to this fairly busy Tuesday of economic data and the FOMC meeting begins. Futures were green in early morning but took a tumble after 2:30am and bottomed just before 5am. Futures have since bounced but remain on the low end as we await the open.

Asian markets ended mixed. China gained 0.32%, Hong Kong dropped 0.61% and Japan declined 1.00%. European markets are down today. The UK is down 1.27%, Germany is down 0.93% and France is down 1.66%.

Commodities are mostly down this morning. Oil is down 1.60%, natural gas is down 0.81% and gold is down 0.03%. Unleaded gas is down 1.23% and heating oil is down 1.58%. Metals are down except gold. Meat is mixed. Cocoa, coffee, cotton, corn, wheat and soybeans are all down.

Markets set to open lower ahead of Fed meeting. Retail sales rise more than forecast as US consumers spend. US small business confidence rises modestly amid sales worries. Chinese stock volatility rises to 3-month high before MSCI.


Tomorrow morning, look out for earnings from Progressive Corp (PGR).

Although WWDC stage lit up with innovation and promise, AAPL ended the day down 1.51% on average volume. AAPL showed some initiative in pre-market and opened up at 98.60 to high volume and quickly put in an intra-day high of 99.12 at 9:33am on moderate volume before making a break towards 97 on moderate volume. AAPL set an intra-day low of 97.10 at 10:20am on moderate volume and then bounced to the upper-97 area, later slipping to the mid-97 area in early afternoon. Later in the afternoon, AAPL made a push up to the low-98 area before slipping back down towards the mid to low 97 area into the close on moderate volume. AAPL ended the WWDC day down 1.49 at 97.34 and dropped an additional 14 cents in after-hours to 97.20.

This morning in pre-market, AAPL opened lower in conjunction with Futures and briefly broke below 96 on low volume. Later, AAPL gained some steam and turned green and set pre-market highs. AAPL is currently up 26 cents at 97.60 as we approach the open.


Classic max-pain is 99. The FOMC meeting begins today.

Markets set to open lower ahead of Fed meeting:
http://www.reuters.com/article/us-usa-stocks-idUSKCN0Z01BQ

Retail sales rise more than forecast as US consumers spend:
http://www.bloomberg.com/news/articles/2016-06-14/retail-sales-rise-more-than-forecast-as-u-s-consumers-spend

US small business confidence rises modestly amid sales worries:
http://in.reuters.com/article/us-usa-economy-sentiment-idINKCN0Z0152

Chinese stock volatility rises to 3-month high before MSCI:
http://www.bloomberg.com/news/articles/2016-06-14/chinese-stock-volatility-rises-to-three-month-high-before-msci

The top 5 productivity improvements from Apple's WWDC:
http://www.computerworld.com/article/3083410/apple-ios/the-top-5-productivity-improvements-from-apples-wwdc.html

Microsoft buys LinkedIn for $26.2 billion, reasserting its muscle:
http://www.nytimes.com/2016/06/14/business/dealbook/microsoft-to-buy-linkedin-for-26-2-billion.html

Alibaba tries to shore up investors' confidence:
http://www.nytimes.com/2016/06/15/business/international/china-alibaba-revenue-guidance.html

NXP selling products unit for $2.75 billion to Chinese group:
http://www.bloomberg.com/news/articles/2016-06-13/nxp-to-sell-products-business-for-2-75-billion-to-chinese-group

What to watch at E3:
http://www.newsweek.com/what-watch-e3-sony-xbox-and-yes-even-nintendo-469787

Jupiter-size alien world with 2 suns found:
http://www.space.com/33155-biggest-tatooine-exoplanet-twin-suns-found.html

To get to Mars we have to go back to the moon:
http://www.scientificamerican.com/article/if-we-want-to-send-astronauts-to-mars-we-must-go-back-to-the-moon-first/

Will Elon lead the way?
http://qz.com/705299/elon-musk-is-building-a-supply-chain-to-mars/

Here's how much sleep your child should get:
http://www.techtimes.com/articles/164825/20160614/heres-how-much-sleep-your-child-should-get.htm


Today's Economic Calendar:
FOMC meeting begins
6:00 NFIB Small Business Optimism Index
8:30 Retail Sales
8:30 Import/Export Prices
8:55 Redbook Chain Store Sales
10:00 Business Inventories


Notable earnings this afternoon after the bell: BOBE, BPMX, CO, LAKE, TAX
And tomorrow before the open: *PGR*

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