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Apple Today 06/15/2016 FED (AAPL)

seymour_greenz • June 15th 2016 09:32:18 AM

Good Morning,

NASDAQ Futures are up 10 with +11 Fair Value, S&P Futures are up 4 with +4 Fair Value and Dow Futures are up 44 in good spirits as we hit mid-week and the Fed announcement at 2pm among a host of other economic data. Futures were down slightly in early morning, bottoming at 1:33am, but have since come a long way up, reaching a peak at 5:15am and settling a little as we await the open.

Asian markets ended up. China soared 1.58%, Hong Kong gained 0.39% and Japan went up 0.38%. European markets are also up strong today. The UK is up 1.02%, Germany is up 1.14% and France is up 1.25%.

Commodities are mixed this morning. Oil is down 1.01%, natural gas is up 0.31% and gold is down 0.47%. Unleaded gas is down 2.24% and heating oil is down 1.42%. Metals are mixed. Meat is up. Cocoa, coffee, cotton, corn, wheat and soybeans are all up.

Fed expected to hold rates steady as Brexit vote clouds outlook. Oil falls on U.S. crude build, Brexit risk. US producer prices rise on gasoline, underlying inflation weak.

Progressive Corp (PGR) reported Q1 earnings with higher than expected expenses this morning and is down nearly 6.5% in pre-market.

This afternoon after the bell, look for earnings from Jabil Circuit Inc. (JBL).
Tomorrow, Kroger Co. (KR) is expected to report.

AAPL's exciting WWDC blueprints began to sink in yesterday, overcoming the typical sell-the-news reaction to rise up a modest 0.12% on a bit lower than average volume. AAPL opened at 97.32 to heavy volume and quickly dashed up to set an intra-day high of 98.48 at 9:41am on moderate volume. AAPL then spent the next hour in a sell-off, dropping to a low of 96.75 at 11:32am on low volume before bouncing up into the mid-97 area on low volume and then testing 97 again before ending the day up 12 cents at 97.46. AAPL dropped 11 cents in after-hours to 97.35.

This morning in pre-market, AAPL opened up in conjunction with Futures and hit a pre-market high of 97.95 at 7:25am before later dipping towards 97.75. AAPL is currently up 32 cents at 97.78 as we approach the open.


Classic max-pain is 98.5. The Fed announcement is at 2pm today.

Fed expected to hold rates steady as Brexit vote clouds outlook:
http://www.reuters.com/article/us-usa-fed-idUSKCN0Z10DI

Oil falls on U.S. crude build, Brexit risk:
http://in.reuters.com/article/us-global-oil-idINKCN0Z0026

US producer prices rise on gasoline, underlying inflation weak:
http://www.reuters.com/article/us-usa-economy-idUSKCN0Z11GM

Import prices post largest gain in four years in May:
http://www.reuters.com/article/us-usa-economy-import-idUSKCN0Z01IS

No rate hike expected from Fed yet:
http://www.npr.org/2016/06/15/482065176/economic-asteroids-no-interest-rate-hike-expected-from-fed-yet

Stock selloff deepens as investors seek safety:
http://www.nasdaq.com/article/stock-selloff-deepens-as-investors-seek-safety-20160614-00990

Court backs rules treating Internet as a utility:
http://www.nytimes.com/2016/06/15/technology/net-neutrality-fcc-appeals-court-ruling.html

Twitter invests $70 million in SoundCloud streaming business:
http://www.bloomberg.com/news/articles/2016-06-15/twitter-invests-70-million-in-soundcloud-streaming-business

The Future of PlayStation:
http://time.com/4368902/sony-playstation-neo-e3-2016-shawn-layden/

Is Zuckerberg a lizard?
http://www.cnet.com/videos/seinfeld-calls-out-zuckerberg-on-over-engineering/

Microsoft Project Scorpio:
http://www.pcworld.com/article/3082660/consumer-electronics/microsoft-reveals-project-scorpio-the-xbox-ones-powerful-4k-ready-successor.html

Space molecules and the origin of life:
http://blogs.discovermagazine.com/d-brief/2016/06/14/a-single-molecule-deep-in-space-could-solve-a-big-mystery-about-life/

Careful with those hot drinks:
http://www.cnn.com/2016/06/15/health/coffee-tea-hot-drinks-cancer-risk/index.html


Today's Economic Calendar:
7:00 MBA Mortgage Applications
8:30 Producer Price Index
8:30 Empire State Mfg Survey
9:15 Industrial Production
10:30 EIA Petroleum Inventories
2:00 PM FOMC Announcement
2:00 PM FOMC Forecast
2:00 PM Chairman Press Conference
4:00 PM Treasury International Capital


Notable earnings this afternoon after the bell: RLOG, CFI, KFY, CLC, CTRP, *JBL*, QUNR, KZ
And tomorrow before the open: *KR*, AERO, PDLDF

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