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Apple Today - 9/01/2016 (AAPL)

seymour_greenz • September 1st 2016 09:36:43 AM

Good Morning,

Hello September! NASDAQ Futures are up 13 with +15 Fair Value, S&P Futures are down 2 with +3 Fair Value and Dow Futures are up 31 as the market seems to welcome the ninth month with open arms and a mega economic calendar, including jobless claims, PMI and some words of "wisdom" from the Fed this afternoon. Futures were up in early morning and pushed higher at 3am but gave up the surge just before 5am, hitting a low and bouncing slightly off the lows. Futures are currently near the lows of the morning as we approach the open but are still in positive territory.

Asian markets ended mostly up. China dropped 0.72%, however Hong Kong gained 0.81% and Japan went up 0.23%. European markets are mostly down. The UK is down 0.59%, Germany is down 0.27% and France is up 0.58%.

Commodities are mixed this morning. Oil is down 0.25%, natural gas is up 0.07% and gold is down 0.17%. Unleaded gas is down 0.77% and heating oil is down 0.29%. Metals are mixed, silver and copper are up while gold and platinum are down. Meat is mostly down. Cocoa, coffee, cotton, corn, wheat and soybeans are all up.

Market set to open little changed ahead of data. Post-Brexit bounce in UK factories sparks Bank of England rate cut doubts. Oil falls as high stocks outweigh talk of output freeze.

Salesforce.com, Inc. (CRM) reported Q3 earnings yesterday that missed expectations and is down nearly 6% in pre-market. Box (BOX) announced a Q2 loss that topped estimates and is down nearly 1.5%.

Campbell Soup Company (CPB) reported a Q4 earnings miss this morning that fell short of estimates and is down over 4% in pre-market. Ciena Corporation (CIEN) announced a Q3 earnings beat with profits above expectations and is up nearly 1.5%. Vera Bradley (VRA) reported adjusted Q2 income of 17 cents per share that exceeded expectations and is up nearly 2%.

This afternoon after the bell, look out for earnings from Ambarella (AMBA), Broadcom Limited (AVGO), VeriFone Systems, Inc. (PAY) and Lululemon Athletica Inc. (LULU).

AAPL splashed along the 106 water-line and then melted into it, ending up 0.09% on low volume. AAPL opened down at 105.66 to high volume and immediately bounced up to green, setting an intra-day low of 105.64 on high volume. AAPL peaked into the mid-106 area at 10:02am on moderate volume before dipping to low-106 area less than 45 minutes later on low volume. AAPL subsequently bounced back into the mid-106 area, this time setting an intra-day high of 106.57 at 11:30am on low volume and then slipping quickly to 106 at 12:08pm on moderate volume on news of the "madding" EU ruling (see below). AAPL bounced back to mid-106 nearly as quickly on mild volume and held on until 2:30pm on low volume before "yet another selloff", bringing 106 up close and personal again by 3:12pm on mild volume. AAPL bounced back slightly but didn't have the oomph nor time for mid-106 area again, instead settling to 106.10, up 10 cents and then dropped 11 cents in after-hours to 105.99.

This morning in pre-market, AAPL opened up higher near the mid-106 area in conjunction with Futures, briefly tested the low-106 area at 5:46am on low volume and held the mid-106 area fairly well until later in the morning when AAPL slipped *again* into the low-106 area. AAPL is currently down 10 cents at 106.00 as we approach the open.


Classic max-pain is 106.


Market set to open little changed ahead of data:
http://www.reuters.com/article/us-usa-stocks-idUSKCN1174K3

Post-Brexit bounce in UK factories sparks Bank of England rate cut doubts:
http://www.reuters.com/article/us-britain-economy-pmi-idUSKCN1174B7

Oil falls as high stocks outweigh talk of output freeze:
http://www.reuters.com/article/us-global-oil-idUSKCN11738H

Jobs report seen as key to Fed rate decision:
http://www.usatoday.com/story/money/2016/08/31/adp-businesses-added-solid-177000-jobs-august/89606368/

Apple chief Tim Cook says tax ruling "maddening":
http://www.bbc.com/news/world-europe-37242357

New iPhone to have dual camera but no headphone jack:
http://www.bloomberg.com/news/articles/2016-08-08/new-iphone-said-to-have-dual-camera-pressure-sensitive-button

Steve Jobs planned to work on Apple TV set after stepping down as Apple CEO:
http://www.macrumors.com/2016/08/31/steve-jobs-apple-tv-project/

Windows 10 new beta lets computers download updates from other PCs:
http://www.pcworld.com/article/3114644/windows/windows-10s-new-beta-lets-computers-download-updates-from-other-pcs.html

Uber turns on electric vehicles in the UK, starting with 50 cars in London:
https://techcrunch.com/2016/08/31/uber-turns-on-electric-vehicles-in-uk-starting-with-50-cars-in-london/

Baidu to test autonomous vehicles in California:
http://www.pcworld.com/article/3114798/baidu-to-test-autonomous-vehicles-in-california.html

AMD amends GlobalFoundries wafer supply agreement through 2020, gaining new flexibility & new costs:
http://www.anandtech.com/show/10631/amd-amends-globalfoundries-wafer-supply-agreement-through-2020

Meet Sony Xperia XZ:
http://arstechnica.com/gadgets/2016/09/sonys-xperia-xz-and-x-compact-smartphones-bank-on-photo-tricks/

A crowdfunding campaign has raised more than $100,000 to rescue two climbers in Pakistan:
http://qz.com/771226/a-crowdfunding-campaign-has-raised-more-than-100000-to-rescue-two-climbers-in-pakistan/

Could these be the world's oldest fossils?
http://www.csmonitor.com/Science/2016/0901/Could-these-be-the-world-s-oldest-fossils

Welcome to "the age of humans":
http://qz.com/771439/scientists-have-finally-decided-we-are-in-the-age-of-humans/

Wow! again? SETI mystery signal could long puzzle astronomers:
http://www.space.com/33904-seti-mystery-signal-wow-alien-message-debate.html

Study finds increase in temporary paralysis accompanied Zika outbreaks:
http://www.nytimes.com/2016/09/01/health/study-finds-increase-in-temporary-paralysis-accompanied-zika-outbreaks.html?_r=0

Test of experimental Alzheimer's drug finds progress against brain plaques:
http://www.npr.org/sections/health-shots/2016/08/31/491941518/test-of-experimental-alzheimers-drug-finds-progress-against-brain-plaques


Today's Economic Calendar:
Auto Sales
Chain Store Sales
7:30 Challenger Job-Cut Report
8:30 Initial Jobless Claims
8:30 Productivity and Costs
8:30 Gallup Good Jobs Rate
9:45 PMI Manufacturing Index
10:00 ISM Manufacturing Index
10:00 Construction Spending
10:30 EIA Natural Gas Inventory
4:30 PM Money Supply
4:30 PM Fed Balance Sheet


Notable earnings this afternoon after the bell: *AMBA*, *AVGO*, COO, SWHC, *PAY*, SEAC, *LULU*

And tomorrow before the open: TAX, WMS, DMPI, SC, SHOS

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