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Apple Today - 10/13/2016 (AAPL)

seymour_greenz • October 13th 2016 09:56:07 AM

Good Morning,

Yikes! NASDAQ Futures are down 27 with -27 Fair Value, S&P Futures are down 11 with -13 Fair Value and Dow Futures are down 89 over Chinese trade data that came in below expectations for September and looming Brexit concerns on this Thursday packed with economic data, including jobless claims this morning. Wells Fargo CEO John Stumpf quits, popping WFC back above 46 last night but it appears to have mostly faded this morning. The earnings calendar is notching up with a handful of companies including CSX Corporation (CSX), Delta Air Lines, Inc. (DAL) and Unilever Plc (UL) reporting and a number of big banks are reporting tomorrow morning including JPMorgan Chase & Co. (JPM), Wells Fargo & Co. (WFC) and Citigroup Inc. (C). Futures were down in early morning, hitting a low just before 4am and have bounced back since but are still down sharply from yesterday as we approach the open.

Asian markets ended mostly down. China went up 0.09%, Hong Kong fell 1.61% and Japan went down 0.39%. European markets are down sharply. The UK is down 1.00%, France is down 1.28% and Germany is leading the decline, down 1.30%.

Commodities are mixed this morning. Oil is up 0.26%, natural gas is down 1.12% and gold is up 0.49%. Unleaded gas is up 0.54% and heating oil is up 0.79%. Metals are mixed, gold and silver are up while copper and platinum are down. Meats are mixed. Cocoa, coffee, corn, wheat and soybeans are up while cotton is down.

Stocks hit by weak China data, strong dollar. US jobless claims at 43-year low, import prices edge up. Oil price gains limited by higher OPEC output, US crude stocks. Wells Fargo CEO John Stumpf quits, replaced by Tim Sloan.

CSX Corporation (CSX) reported Q3 earnings yesterday afternoon that beat expectations and is up over 0.5% in pre-market.

Winnebago Industries, Inc. (WGO) announced Q4 results this morning with net income of 49 cents per share that topped expectations and is down over 3% in pre-market. Delta Air Lines, Inc. (DAL) reported Q3 earnings with mixed results and is down nearly 1.5%. Unilever Plc (UL) announced Q3 results indicating slowing sales and is down over 3%. First Republic Bank (FRC) reported Q3 results with earnings of $1 per share, exceeding expectations and has yet to react.

Tomorrow morning before the open, JPMorgan Chase & Co. (JPM), Wells Fargo & Co. (WFC), Citigroup Inc. (C), First Horizon National Corporation (FHN) and Infosys Limited, Inc. (INFY) are expected to report.

AAPL showed a mountain of strength yesterday, peaking in the afternoon and ending up 0.89% on slightly lower than average volume. AAPL opened up at 117.35 to high volume, quickly dashed up into the upper-117 area on heavy volume before dipping below 117 on high volume and setting an intra-day low of 116.75 at 11:06am on moderate volume. AAPL subsequently bounced and reclaimed the mid-117 zone by lunchtime on moderate volume and went on to set an intra-day high of 117.98 at 2:24pm on low volume before slipping back below 117.5 on mild volume and dipping towards the low-117 area into the close on moderate volume. AAPL ended the day up 1.04 cents at 117.34 and dropped 11 cents in after-hours to 117.23.

This morning in pre-market, AAPL opened up lower in conjunction with Futures and lurked around in the upper-116 area for most of the morning, falling to a pre-market low of 116.50 at 8:47am before seeing a slight bounce. AAPL is currently down 63 cents at 116.71 as we approach the open.


Classic max-pain is 115.


Stocks hit by weak China data, strong dollar:
http://www.reuters.com/article/us-global-markets-idUSKCN12D02K

US jobless claims at 43-year low, import prices edge up:
http://www.reuters.com/article/us-usa-economy-jobless-idUSKCN12D1KL

Oil price gains limited by higher OPEC output, US crude stocks:
http://www.reuters.com/article/us-global-oil-idUSKCN12D031?il=0

Wells Fargo CEO John Stumpf quits, replaced by Tim Sloan:
http://www.reuters.com/article/us-wells-fargo-moves-johnstumpf-idUSKCN12C2LC

Apple's Mac and MacBook lineup to be updated?
http://www.zdnet.com/article/apples-disgracefully-outdated-mac-lineup-is-killing-sales/

Apple fires staff amid claims intimate photos shared in Australia store:
http://www.bbc.com/news/world-australia-37642095

Samsung officially recalls Note 7:
https://www.cnet.com/news/samsung-recall-galaxy-note-7-again-consumer-product-safety/

Google Pixel video ads show how determined Google is:
http://www.slashgear.com/google-pixel-video-ads-show-how-determined-google-is-13459840/

What the canceled Microsoft Band 3 would have looked like:
http://www.digitaltrends.com/wearables/microsoft-band-3-pictures/

Amazon's full on-demand streaming music service launches today:
http://www.theverge.com/2016/10/12/13244158/amazon-music-unlimited-launch-echo-availability-price

Amazon to hire 120,000 temporary workers for holiday season:
http://www.reuters.com/article/us-amazon-com-employment-idUSKCN12D14A

PlayStation VR review:
http://www.digitaltrends.com/virtual-reality/why-psvr-will-succeed/

PlayStation VR's best launch game is a 15-year-old musical shooter:
http://www.theverge.com/2016/10/13/13260036/rez-infinite-playstation-vr-review

Tesco removes Marmite and other Unilever brands in price row:
http://www.bbc.com/news/business-37639518

New moon craters are appearing faster than thought:
http://www.space.com/34372-new-moon-craters-appearing-faster-than-thought.html

Earthlike planet orbiting Alpha Centauri?
http://www.csmonitor.com/Science/2016/1012/Is-an-Earthlike-planet-orbiting-Alpha-Centauri-Project-Blue-will-take-a-look

Still want to go to Mars?
http://qz.com/807380/a-new-study-shows-a-trip-to-mars-can-harm-brain-functions-crucial-to-completing-a-space-mission/

Feeding silkworms carbon nanotubes and graphene makes super-tough silk:
http://www.smithsonianmag.com/smart-news/feeding-caterpillars-carbon-nanotubes-makes-super-tough-silk-180960752/?no-ist

Could dinosaurs roar?
http://www.csmonitor.com/Science/2016/1012/Could-dinosaurs-really-roar-Ancient-voice-box-offers-clues

The $5.8 billion argument for getting your flu shot:
https://www.washingtonpost.com/news/wonk/wp/2016/10/13/the-5-8-billion-argument-for-getting-your-flu-shot/

What you need to know about Zika virus at every stage of life:
http://www.huffingtonpost.com/entry/zika-virus-faqs_us_57f3b46de4b0703f7590ef2d


Today's Economic Calendar:
8:30 Initial Jobless Claims
8:30 Import/Export Prices
9:45 Bloomberg Consumer Comfort Index
10:30 EIA Natural Gas Inventory
11:00 EIA Petroleum Inventories
12:15 PM Fed's Harker: Economic Outlook
1:00 PM Results of $12B, 30-Year Note Auction
2:00 PM Treasury Budget
4:30 PM Money Supply
4:30 PM Fed Balance Sheet


Notable earnings this afternoon after the bell: ONCS, ENZ, KMG, ITKG, IMSCQ

And tomorrow before the open: DFRG, *JPM*, PNC, *WFC*, *C*, *FHN*, *INFY*

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