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Apple Today - 9/20/2016 FOMC (AAPL)

seymour_greenz • September 20th 2016 09:36:21 AM

Good Morning,

NASDAQ Futures are up 17 with +21 Fair Value, S&P Futures are up 8 with +9 Fair Value and Dow Futures are up 56 as the suspect from Saturday's attack in Manhattan is safely in custody. Both today's economic and earnings calendars are fairly light but the much awaited for (or dreaded) September FOMC meeting officially kicks off. Futures were up in early morning and continued up until peaking just after 6am, then leveling off and are near the highs as we approach the open.

Asian markets ended down slightly. China dropped 0.10%, Hong Kong went down 0.08% and Japan led the decline, down 0.16%. European markets are up. The UK is up 0.66%, France is up 0.35% and Germany is leading the advance, up 0.75%.

Commodities are mixed this morning. Oil is down 1.25%, natural gas is up 1.77% and gold is up 0.03%. Unleaded gas is down 1.36% and heating oil is down 0.65%. Metals are mixed, gold and platinum are up while silver and copper are down. Meat is down. Coffee, cotton, corn, wheat and soybeans are up while cocoa is down.

Global stocks, dollar subdued as Fed, BOJ meetings begin. US housing starts take a breather, single-family permits rise. Long-dated euro zone yields fall with Japanese influx expected.

Ascena Retail Group Inc (ASNA) reported adjusted Q4 earnings of 8 cents per share yesterday afternoon that missed expectations and lower guidance and is down nearly 23.5% in pre-market.

Lennar Corporation (LEN) announced Q3 results this morning with a 13.7% rise in quarterly revenue, topping expectations and is down nearly 2% in pre-market. Palatin Technologies, Inc (PTN) also reported Q4 earnings and is up over 0.5%.

This afternoon after the bell, look out for earnings from Copart, Inc. (CPRT), FedEx Corporation (FDX), Adobe Systems Incorporated (ADBE) and KB Home (KBH).

Tomorrow morning before the open, General Mills, Inc. (GIS) and CarMax Group (KMX) are expected to report.

AAPL's heartbeat pulsed up then down, ending 1.25% lower on higher than average volume. AAPL opened up at 115.19 to high volume and quickly surged up to an intra-day high of 116.18 at 9:32am on very heavy volume before dissipating back towards 115 on high volume and then slipping under 115 and into the red shortly after 10am, testing the mid-114 area at 10:14am on high volume. Aside from a brief gasp to green again at 10:22am on moderate volume, AAPL gave up positive territory for the remainder of the day. AAPL decayed to 114 on moderate volume by 11am and struggled to recover to the mid-114 area by noon on lower volume, eventually slipping to the mid-113.5 area during lunchtime on high volume and then on to a low of 113.25 at 1:45pm on low volume before bouncing back into the 114 area on light volume and then slipping sharply back to mid-113 into the close. AAPL ended the day down 1.44 at 113.48. AAPL dropped 8 more cents in after-hours to 113.40.

This morning in pre-market, AAPL picked up with yesterday's after-hours in the mid-113 area and dipped to 113.17 on low volume at 5:30am before moving up to a pre-market high of 113.88 at 6:36am and then dipping to a low of 113.03 at 8:58am before bouncing slightly. AAPL is currently down 46 cents at 113.12 as we approach the open.


Classic max-pain is 112. The FOMC meeting begins today.


Global stocks, dollar subdued as Fed, BOJ meetings begin:
http://www.reuters.com/article/us-global-markets-idUSKCN11Q02S?il=0

US housing starts take a breather, single-family permits rise:
http://www.reuters.com/article/us-usa-economy-idUSKCN11Q1KX

Long-dated euro zone yields fall with Japanese influx expected:
http://www.reuters.com/article/eurozone-bonds-idUSL8N1BW2H7

Should the Fed just be clear and raise rates?
https://www.bloomberg.com/view/articles/2016-09-20/the-fed-should-be-clear-and-raise-rates

Buffett's investing deputy Todd Combs named to JPMorgan's board:
http://www.bloomberg.com/news/articles/2016-09-20/jpmorgan-chase-names-buffett-deputy-combs-to-board-of-directors

Kmart to close 64 more stores across the US:
http://www.usatoday.com/story/money/2016/09/19/kmart-close-64-more-stores-across-us/90714308/

Unilever goes green, buys Seventh Generation:
http://money.cnn.com/2016/09/19/technology/unilever-buying-seventh-generation/

US motorists wasted billions on premium gasoline last year according to AAA:
http://www.reuters.com/article/us-usa-motorists-gasoline-idUSKCN11Q0D0

Vroom raises $50 million to make buying a used car as easy as shoe shopping online:
https://techcrunch.com/2016/09/20/vroom-raises-50-million-to-make-buying-a-used-car-as-easy-as-shoe-shopping-online/

Bayer-Monsanto deal gets US Senate scrutiny:
http://www.cbsnews.com/news/bayer-monsanto-deal-gets-u-s-senate-scrutiny/

Bills defend consumers' right to leave bad reviews:
http://www.detroitnews.com/story/news/politics/2016/09/20/congress-online-reviews/90726654/

Jet black iPhone 7 Plus pre-orders shipping sooner than expected:
http://www.macrumors.com/2016/09/19/jet-black-iphone-7-plus-orders-shipping/

Some iPhone 7 owners say their phones are having hissing fits:
https://www.cnet.com/news/iphone-7-owners-their-phones-hissing-fits/

GoPro Hero5:
http://www.cnet.com/uk/products/gopro-hero5-session/preview/

US releases highway code for robot cars:
http://www.bbc.com/news/technology-37418119

T-Mobile keeps pilfering customers from its wireless rivals:
https://www.cnet.com/news/t-mobile-keeps-pilfering-customers-from-its-wireless-rivals/

Mars may have been able to support life for longer than we thought:
http://www.csmonitor.com/Science/2016/0920/Mars-may-have-been-able-to-support-life-for-longer-than-we-thought

Mysterious "heart" on Pluto has finally been explained:
https://www.cnet.com/news/mysterious-heart-on-pluto-has-finally-been-explained/

Antikythera shipwreck skeleton may yield 2,000-year-old DNA:
http://www.csmonitor.com/Science/2016/0919/Antikythera-shipwreck-A-skeleton-may-yield-2-000-year-old-DNA

Big step for quantum teleportation won’t bring us any closer to Star Trek:
http://www.sciencemag.org/news/2016/09/big-step-quantum-teleportation-won-t-bring-us-any-closer-star-trek-here-s-why

H1N1 Swine Flu vaccine unlikely to cause increased risks of birth defects:
http://www.techtimes.com/articles/178454/20160920/h1n1-swine-flu-vaccine-unlikely-to-cause-increased-risks-of-birth-defects.htm

Study says beer makes you happier, friendlier:
http://www.upi.com/Surprise-Study-says-beer-makes-you-happier-friendlier/3991474334694/


Today's Economic Calendar:
FOMC meeting begins
8:30 Housing Starts
8:55 Redbook Chain Store Sales


Notable earnings this afternoon after the bell: KOOL, RSSS, *CPRT*, *FDX*, *ADBE*, *KBH*, CAFD

And tomorrow before the open: *GIS*, *KMX*, IAALF

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