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Apple Today - 8/24/2016 (AAPL)

seymour_greenz • August 24th 2016 09:31:34 AM

Good Morning,

NASDAQ Futures are up 5 with +3 Fair Value, S&P Futures are up 1 with +1 Fair Value and Dow Futures are up 7 as we hit mid-week with a full economic calendar, including existing home sales at 10am and a small surge in upcoming earnings stragglers as the market anticipates Yellen at Jackson Hole on Friday. Futures were down in early morning and dipped to a low just after 3am, then bounced sharply up into positive territory and are near the highs as we approach the open.

Asian markets ended mixed. China went down 0.12%, Hong Kong dropped 0.77% and Japan gained 0.61%. European markets are mostly up. The UK is down 0.10%, Germany is up 0.49% and the France is up 0.58%.

Commodities are mixed this morning. Oil is down 2.12%, natural gas is up 0.04% and gold is down 0.34%. Unleaded gas is down 0.79% and heating oil is down 1.00%. Metals are down. Meat is down. Cocoa and coffee are up while cotton, corn, wheat and soybeans are down.

US Index Futures are little changed as investors await Yellen. Jackson Hole gives Yellen stage to keep 2016 rate rise on radar.

La-Z-Boy Incorporated (LZB) reported Q1 earnings yesterday afternoon that missed expectations and is down nearly 13% in pre-market. Intuit Inc. (INTU) announced Q4 results that beat expectations but weak forecast and is down over 5%.

Express, Inc. (EXPR) reported Q2 earnings this morning that missed expectations and cut forecast and is down over 21%.

This afternoon after the bell, look out for earnings from HP Inc. (HPQ), Workday (WDAY), Guess? Inc. (GES) and Williams-Sonoma Inc. (WSM).

Tomorrow morning before the open, Dollar Tree, Inc. (DLTR), JinkoSolar Holding Co., Ltd. (JKS), Medtronic plc (MDT), Burlington Stores, Inc (BURL), Dollar General Corporation (DG), The Michaels Companies (MIK), Destination XL Group, Inc. (DXLG), Tiffany & Co. (TIF), Movado Group, Inc. (MOV), 1-800 FLOWERS.COM, Inc. (FLWS) and Seadrill Limited (SDRL) are expected to report.

AAPL strolled up through fields of green yesterday with a hint of clouds near the end of day, ending up 0.31% on very low volume. AAPL opened up at 108.57 to high volume and immediately put in an intra-day low of 108.53, launching up above 109 within minutes on strong volume and continuing on to set an intra-day high of 109.32 at 10:02am on mild volume. After peaking, AAPL drifted lower laterin the morning on low volume and conceded 109 just over an hour later. For the remainder of the day AAPL hovered around the upper-108 area on incredibly low volume with periodic fleeting attempts to push over 109 that were resisted. AAPL held the 108.9 line fairly well until the close when AAPL dipped slightly on moderate volume. AAPL ended the day up 34 cents at 108.85 and gained 3 more cents in after-hours to 108.88.

This morning in pre-market, AAPL opened up above 108.9 with an eye towards 109, which was touched at 5:46am on light volume in conjunction with the Futures run up. Since, however, AAPL dipped down slightly to hit a low of 108.82 at 7:22am before momentarily bouncing back above 108.9. AAPL is currently up a penny at 108.86 as we approach the open.


Classic max-pain is 108. Pray for the poor earthquake victims and their families in Italy.


US Index Futures are little changed as investors await Yellen:
http://www.bloomberg.com/news/articles/2016-08-24/u-s-index-futures-are-little-changed-as-investors-await-yellen

Jackson Hole gives Yellen stage to keep 2016 rate rise on radar:
http://www.bloomberg.com/news/articles/2016-08-24/jackson-hole-gives-yellen-stage-to-keep-2016-rate-rise-on-radar

Will Pfizer split in two?
https://www.bloomberg.com/gadfly/articles/2016-08-24/pfizer-split-looking-less-likely-with-every-deal-it-does

China central bank cash injection signals leverage, asset bubble concerns:
http://in.reuters.com/article/china-openmarket-repo-idINKCN10Z19Y

Apple becomes a green energy supplier with itself as customer:
http://www.nytimes.com/2016/08/24/business/energy-environment/as-energy-use-rises-corporations-turn-to-their-own-green-utility-sources.html

Tim Cook reaches 5 years as Apple CEO, unlocks over $100 million in bonuses:
http://www.macrumors.com/2016/08/24/tim-cook-apple-ceo-five-years/

UBS leads team of banks working on blockchain settlement system:
http://www.reuters.com/article/us-banks-blockchain-ubs-idUSKCN10Z147

Inmates using ramen as currency:
http://www.csmonitor.com/USA/Justice/2016/0823/Inmates-using-ramen-as-currency-Why-is-this-a-bad-thing-video

Meet the world's newest billionaire brothers:
http://qz.com/763927/the-worlds-newest-billionaires-are-two-brothers-from-india-who-started-out-as-nerds/

Here's how the new Teslas stack up against Bugatti, Lamborghini, and Ferrari:
http://www.bloomberg.com/news/articles/2016-08-24/here-s-how-the-new-teslas-stack-up-against-bugatti-lamborghini-and-ferrari

Judge rules in favor of Fitbit:
http://www.techtimes.com/articles/174822/20160824/judge-rules-fitbit-did-not-steal-jawbone-trade-secrets-fitbit-pleased-jawbone-pushes-for-review.htm

FBI investigating Russian hack of New York Times reporters, others:
http://www.cnn.com/2016/08/23/politics/russia-hack-new-york-times-fbi/

China unveils 2020 Mars mission probe and rover:
http://www.bbc.com/news/world-asia-china-37171942

Why are microbeads controversial?
http://www.bbc.com/news/science-environment-37175379

Brain scans of Brazilian babies show array of Zika effects:
http://www.nytimes.com/2016/08/24/health/zika-a-formidable-enemy-attacks-and-destroys-parts-of-babies-brains.html


Today's Economic Calendar:
7:00 MBA Mortgage Applications
9:00 FHFA House Price Index
10:00 Existing Home Sales
10:30 EIA Petroleum Inventories
11:30 Results of $13B, 2-Year FRN Auction
1:00 PM Results of $34B, 5-Year Note Auction


Notable earnings this afternoon after the bell: PALAF, *HPQ*, HEI, *WDAY*, *GES*, TLYS, *WSM*, PVH, CCM, JBSS, BLLAF, NZEOF, SOUHY, SQM, WOLWF, XGTI

And tomorrow before the open: ABLYF, CM, GASS, NADL, PDCO, SAFM, SDRNF, SFUN, TD, *DLTR*, *JKS*, *MDT*, *BURL*, TECD, LEJU, *DG*, *MIK*, *DXLG*, *TIF*, LFC, REX, SIG, DEST, *MOV*, NDRM, TITN, EGDFF, *FLWS*, VIVEF, EDAP, SDLP, *SDRL*, AHODF, CRH, HMLP, PYTCF

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