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Apple Today - 10/14/2016 OPEX (AAPL)

seymour_greenz • October 14th 2016 09:55:54 AM

Good Morning,

Happy Friday! NASDAQ Futures are up 16 with +16 Fair Value, S&P Futures are up 8 with +8 Fair Value and Dow Futures are up 73 as earnings from JPMorgan Chase & Co. (JPM), Wells Fargo & Co. (WFC) and Citigroup Inc. (C) contribute towards a bounce back. Today's economic calendar is busy for a Friday with retail sales rolling in this morning and a speech from Janet Yellen this afternoon at 12:30pm. The upcoming earnings calendar is heating up and Bank of America Corp (BAC) and Hasbro Inc (HAS) are on tap for Monday morning. Futures were up slightly in early morning and took a step up after 4:45am, peaking just over 2 hours later and are off the highs as we approach the open.

Asian markets ended up. China went up 0.08%, Japan gained 0.49% and Hong Kong led the advance, up 0.88%. European markets are up sharply. The UK is up 0.73%, Germany is up 1.53% and France is leading the advance, up 1.84%.

Commodities are mixed this morning. Oil is up 0.81%, natural gas is down 0.33% and gold is down 0.29%. Unleaded gas is up 0.18% and heating oil is down 0.15%. Metals are down. Meats are mostly down. Cocoa, coffee, cotton, corn, wheat and soybeans are all up.

Retail sales in US rose in September by most in 3 months. Wholesale prices in US rose more than forecast in September. China inflation relief sends global stocks, dollar higher.

JPMorgan Chase & Co. (JPM) reported Q3 results this morning with earnings down 8% but beat estimates and is up almost 1.5% in pre-market. Wells Fargo & Co. (WFC) Q3 quarterly profits are down 3.7%, good enough to beat lowered expectations and the stock is up nearly 0.5%. Citigroup Inc. (C) announced Q3 results with profit down 10.5%, again good enough to beat the low expectations and is up over 1.5%. Infosys Limited, Inc. (INFY) reported Q2 earnings with a profit of 24 cents per share that met expectations and is down over 3.5%.

Monday morning before the open, Bank of America Corp (BAC) and Hasbro Inc (HAS) are expected to report.

AAPL dropped sharply and splashed back to the water-line, ending down 0.31% on slightly lower than average volume. AAPL opened down at 116.79 to high volume and popped into the mid-117 area on huge volume, nearly turning green, before reversing and dropping sharply on heavy volume by 10am, alongside the broader market. Later in the morning AAPL continued to sour, setting an intra-day low of 115.72 at 10:32am on moderate volume before stabilizing at 116 and popping back up to the mid-116 area by 11:20am on moderate volume and pushing back up to 117 by mid-afternoon on moderate volume. AAPL went on to touch green and set an intra-day high of 117.44 at 3:14pm on moderate volume before dipping back below 117 in the final hour into the close. AAPL ended the day down 36 cents at 116.98 and remained unchanged in after-hours at 116.98.

This morning in pre-market, AAPL opened up higher in conjunction with Futures and moved up to the mid-117 area, later pushing even further up into the upper-117 area and setting a pre-market high of 117.99 at 8:49am before retreating slightly. AAPL is currently up 82 cents at 117.80 as we approach the open.


Classic max-pain is 115. Today is OPEX. Have a good weekend with your friends and family.


Retail sales in US rose in September by most in 3 months:
http://www.bloomberg.com/news/articles/2016-10-14/retail-sales-in-u-s-rose-in-september-by-most-in-three-months

Wholesale prices in US rose more than forecast in September:
http://www.bloomberg.com/news/articles/2016-10-14/wholesale-prices-in-u-s-rose-more-than-forecast-in-september

China inflation relief sends global stocks, dollar higher:
http://www.reuters.com/article/us-global-markets-idUSKCN12E01P

JPMorgan's 3Q earnings fall 8%, still beat estimates:
http://www.usnews.com/news/business/articles/2016-10-14/jpmorgans-3q-earnings-fall-8-percent-but-beats-estimates

HP Inc to axe up to 4,000 jobs over next 3 years:
http://arstechnica.com/business/2016/10/hp-inc-4000-job-cuts-planned/

Verizon says Yahoo data breach could affect deal:
http://www.bbc.com/news/business-37652461

Apple begins selling carrier unlocked iPhone 7, iPhone 7 Plus in US:
http://www.zdnet.com/article/apple-begins-selling-carrier-unlocked-iphone-7-iphone-7-plus/

A new keyboard from Apple?
http://bgr.com/2016/10/12/macbook-pro-2016-rumors-magic-keyboard-2/

5 privacy settings to change in Windows 10:
https://www.cnet.com/how-to/5-privacy-settings-to-change-in-windows-10/

Did Samsung doom Android?
http://www.zdnet.com/article/will-the-spectacular-failure-of-the-samsung-note-7-kill-android-a-data-driven-analysis/

Facebook adds support for video streaming to Apple TV, Google Chromecast:
http://www.zdnet.com/article/facebook-adds-support-for-video-streaming-to-apple-tv-google-chromecast/

Does Sony owe you $55?
http://www.techtimes.com/articles/182283/20161014/attention-playstation-3-owners-sony-might-owe-you-55-if-you-bought-the-console-before-april-2010.htm

The VR showdown:
http://arstechnica.com/gaming/2016/10/best-vr-headset-2016-psvr-rift-vive/

NYPD's official crime-fighting phone:
https://www.cnet.com/news/nypd-new-york-police-official-crime-fighting-windows-phone/

Did ancient Greeks help build China's Terracotta Army?
http://www.csmonitor.com/Science/2016/1013/Did-ancient-Greeks-help-build-China-s-Terracotta-Army

Comet impact linked to rise of mammals:
http://www.bbc.com/news/science-environment-37647049

The universe contains 10 to 20 times more galaxies than we thought:
http://www.popularmechanics.com/space/a23361/universe-20-times-more-galaxies/

Colonizing the moon? Meteor showers more frequent than expected:
http://www.csmonitor.com/Science/2016/1013/Colonizing-the-moon-Meteor-showers-more-frequent-than-expected

In a medical first, brain implant allows paralyzed man to feel again:
https://www.washingtonpost.com/news/to-your-health/wp/2016/10/13/in-a-medical-first-brain-implant-allows-paralyzed-man-to-feel-again/

Study links heavy cannabis use with bone disease:
http://www.upi.com/Health_News/2016/10/12/Study-links-heavy-cannabis-use-with-bone-disease/6341476289683/

2.8 million new cases reveals true scale of India's tuberculosis problem:
http://www.nytimes.com/2016/10/14/world/asia/true-scale-of-indias-tuberculosis-problem-2-8-million-new-cases.html?_r=0

Rare surgery to separate brothers conjoined at head:
http://www.cnn.com/2016/10/13/health/mcdonald-conjoined-twins-to-separate/


Today's Economic Calendar:
8:30 Producer Price Index
8:30 Retail Sales
8:30 Fed's Rosengren: "The Elusive Recovery"
10:00 Business Inventories
10:00 Consumer Sentiment
12:30 PM Janet Yellen speech
1:00 PM Baker-Hughes Rig Count
2:00 PM Treasury Budget


Notable earnings this afternoon after the bell: AJRD, BKMU, CPHD, PTSC

And on Monday before the open: ABCB, *BAC*, FMBL, *HAS*, JBHT, LII

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