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Apple Today - 9/07/2016 EVENT (AAPL)

seymour_greenz • September 7th 2016 09:35:20 AM

Good Morning,

NASDAQ Futures are up 3 with +2 Fair Value, S&P Futures are down 2 with -3 Fair Value and Dow Futures are down 12 as the highly anxiously awaited and "actual" Apple product event comes "into focus" at 1pm among a healthy dose of economic data and a smattering of earnings. Futures were up in early morning and slipped shortly before 6am, turning into a mixed bag with NASDAQ the only index still hanging onto green. All Futures indexes are at the lows as we approach the open.

Asian markets ended mostly down. China went up 0.04%, Hong Kong dropped 0.19% and Japan fell 0.41%. European markets are up. The UK is up 0.03%, Germany is up 0.39% and France is up 0.25%.

Commodities are mixed this morning. Oil is down 0.18%, natural gas is up 0.70% and gold is down 0.13%. Unleaded gas is up 0.65% and heating oil is up 0.50%. Metals are mixed, gold and silver are down while copper and platinum are up. Meat is down sharply again. Cocoa, coffee, corn, wheat and soybeans are are up while cotton is down.

Market to open flat as investors seek clues on rates. Asian stocks drift as Fed rate outlook eases on service data. Apple sets the stage for event at 1pm.

Dave & Buster's Entertainment, Inc. (PLAY) reported Q2 earnings yesterday afternoon that beat expectations but lowered forecast and is down nearly 6% in pre-market.

HD Supply (HDS) announced Q2 results that missed expectations and a weak outlook and is down over 10% in pre-market. On the other hand, Francesca's Holdings Corp. (FRAN) reported Q2 earnings that beat forecasts and is up nearly 14.5%.

This afternoon after the bell, look out for earnings from FuelCell Energy, Inc. (FCEL), Hewlett Packard Enterprise (HPE) and Tailored Brands, Inc (TLRD).

Tomorrow morning before the open, Barnes & Noble Inc (BKS) and Navistar International Corporation (NAV) are expected to report.

AAPL - well, didn't do much of anything yesterday ending down just a slight 0.03% on tiny volume - almost as if the day "never even happened" (CMG and NFLX would disagree though)... It did start out promising with AAPL cheerfully up in pre-market and then opening up at 107.82 to high volume and momentarily zooming up above pre-market highs on strong volume to set an intra-day high of 108.30 at 9:48am. Afterwards, however, AAPL dragged down to near-flatline within 30 minutes on moderate volume and hung around in a very narrow range in the upper-107 on pathetic volume until the lunch plates were cleaned. Shortly after 1pm, AAPL took a low volume tumble into the red towards the mid-107 area and then set an intra-day low of 107.51 at 2:34pm on low volume before bouncing back up towards break-even. AAPL ended the day down 3 cents at 107.70 and gained 16 cents in after-hours to 107.86.

This morning in pre-market, AAPL picked up with yesterday's after-hours and continued driving up to set a pre-market high of 108.32 at 6:28am before encountering another sub-108 valley later in the morning as tension for the Apple event runs "high", even if expectations are fairly low. AAPL is currently up 18 cents at 107.88 as we approach the open.


Classic max-pain is 107. The Apple event is today at 1pm.


Market to open flat as investors seek clues on rates:
http://www.reuters.com/article/us-usa-stocks-idUSKCN11D1BR

Asian stocks drift as Fed rate outlook eases on service data:
http://www.usnews.com/news/business/articles/2016-09-07/asian-stocks-drift-as-fed-rate-outlook-eases-on-service-data

Noonan says Irish tax criticisms unfair regarding Apple tax:
http://www.bbc.com/news/world-europe-37294260

Apple's greatest innovation is its ecosystem:
http://www.theverge.com/2016/9/7/12828846/apple-s-greatest-product-is-its-ecosystem

Don't want to pay $10 a month for Apple Music? Apple will cut you a deal:
http://www.cnet.com/news/dont-want-to-pay-10-a-month-for-apple-music-apple-will-cut-you-a-deal/

Ackman and Chipotle:
https://www.bloomberg.com/gadfly/articles/2016-09-07/bill-ackman-chipotle-bet-recipe-for-indigestion

Sony's PlayStation meeting is today. Here's what to expect:
http://www.wired.com/2016/09/playstation-meeting-2016/

PlayStation VR will come with a packed demo disc:
http://www.techtimes.com/articles/176609/20160907/playstation-vr-will-come-with-a-demo-disc-at-launch-driveclub-vr-eve-valkyrie-and-many-more.htm

T-Mobile amps up speeds further:
http://www.pcmag.com/news/347615/t-mobile-amps-up-speeds-further-with-new-technologies

Why Lego wanted people to stop buying its toys:
https://www.washingtonpost.com/news/business/wp/2016/09/06/the-surprising-reason-lego-wanted-people-to-stop-buying-its-toys/

Mercedes equips delivery van with "robotic carrier pigeons":
http://www.bloomberg.com/news/articles/2016-09-07/mercedes-equips-delivery-van-with-robotic-carrier-pigeons

Porn account holders exposed by hackers:
http://www.bbc.com/news/technology-37285715

Why NASA picked space rock Bennu for its asteroid-sampling mission:
http://www.space.com/33987-why-nasa-picked-asteroid-bennu-osiris-rex-mission.html

Our interstellar neighbors:
http://www.space.com/33952-five-nearest-earth-like-alien-planets.html

Could the eastern gorilla go extinct?
http://www.csmonitor.com/Environment/2016/0907/Could-the-eastern-gorilla-go-extinct

Real-life Nessie?
https://www.washingtonpost.com/news/speaking-of-science/wp/2016/09/06/real-life-nessie-ancient-scottish-sea-monster-found-in-museum-collection/

This video powerfully shows why men need to talk about mental health:
http://www.huffingtonpost.com/entry/movember-suicide-prevention-video_us_57ceff5de4b06a74c9f0bec4

China offers free screening for travelers from Zika-hit countries:
http://www.reuters.com/article/us-health-zika-china-idUSKCN11D0VX

Elderly people who use electric fans could be doing health more harm than good:
http://www.huffingtonpost.co.uk/entry/elderly-people-who-use-electric-fans-could-be-harming-their-health_uk_57cfdb2ae4b0d45ff87034ae

Take vitamin D supplements to lower your risk of serious asthma attack:
http://www.techtimes.com/articles/176496/20160907/want-to-lower-your-risk-of-serious-asthma-attack-take-vitamin-d-supplements.htm


Today's Economic Calendar:
7:00 MBA Mortgage Applications
8:30 Gallup U.S. Job Creation Index
8:55 Redbook Chain Store Sales
9:45 PMI Services Index
10:00 Fed’s Esther and Lacker testify before the House Committee
10:00 Job Openings and Labor Turnover Survey
2:00 PM Fed's Beige Book


Notable earnings this afternoon after the bell: BV, GWRE, ABM, MGCD, *FCEL*, MIND, DTEA, STRM, EPM, *HPE*, VRNT, *TLRD*

And tomorrow before the open: DCI, *BKS*, DSGX, *NAV*, SKIS, CONN, SAIC, HOFT, SNOW, TRZBF, TCLAF, BNED

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