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Apple Today 11/02/2016 FOMC (AAPL)

seymour_greenz • November 2nd 2016 10:03:12 AM

Good Morning,

NASDAQ Futures are flat with -2 Fair Value, S&P Futures are down 2 with -4 Fair Value and Dow Futures are down 28 as we hit mid-week with only 6 days left until the historic 2016 US elections and among a particularly exciting daily economic calendar with ADP Jobs Report, Gallup U.S. Job Creation Index and a FOMC Announcement at 2pm. The earnings calendar is nearly at a peak today with fresh earnings from Alibaba Group Holding Limited (BABA), Etsy, Inc. (ETSY), Herbalife Ltd. (HLF) and United States Steel Corporation (X) and bellwethers Facebook (FB) and Fitbit, Inc. (FIT) will be rolling in after the bell with Yelp (YELP) following tomorrow morning. Futures were down in early morning and recovered shortly after 7am before easing back slightly and are just off the highs in neutral territory as we approach the open.

Asian markets ended down. China dropped 0.63%, Hong Kong went down 0.50% and Japan led the decline, down 1.67%. European markets are also down. Germany is down 0.76%, France is down 0.60% and the UK is leading the decline, down 1.02%.

Commodities are mostly up this morning. Oil is down 1.35%, natural gas is down 3.79% and gold is up 0.89%. Unleaded gas is up 0.08% and heating oil is down 1.48%. Metals are up except copper. Meats are mostly up. Cocoa, coffee, cotton, corn wheat and soybeans are all up.

ADP reports US private sector adds 147,000 jobs in October. Market set to slip amid election uncertainty. Dollar slumps, yen and franc surge as election rattles markets.

Etsy, Inc. (ETSY) reported Q3 earnings yesterday afternoon with a loss of 2 cents per share and is up over 1% in pre-market. Electronic Arts Inc. (EA) announced Q2 results that beat expectations and raised outlook and is up nearly 4.5%. Herbalife Ltd. (HLF) reported Q3 results with adjusted earnings of $1.21 per share and is down nearly 2%. Square, Inc. (SQ) announced Q3 results that beat expectations and is up over 5%. Zillow Group, Inc. (Z) is down slightly after posting an adjusted Q3 profit of 17 cents per share. United States Steel Corporation (X) reported Q3 results with adjusted earnings of 40 cents per share that missed expectations and is down nearly 7%. Cavium Networks, Inc. (CAVM) is up nearly 1% after reporting a Q3 loss that beat expectations.

Alibaba Group Holding Limited (BABA) reported Q3 results this morning and is up nearly 3% in pre-market. Time Warner Inc. (TWX) is up nearly 0.5% after posting Q3 results that topped expectations. Office Depot Inc. (ODP) announced Q3 results that beat expectations and is up nearly 8%.

This afternoon after the bell, look out for earnings from Twenty-First Century Fox, Inc. (FOXA), HubSpot, Inc. (HUBS), Prudential Financial, Inc. (PRU), Whole Foods Market, Inc. (WFM), Zynga (ZNGA), American International Group Inc (AIG), Red Robin Gourmet Burgers, Inc. (RRGB), Avis Budget Group, Inc. (CAR), First Solar, Inc. (FSLR), Gildan Activewear Inc. (GIL), Digimarc Corporation (DMRC), La Quinta Holdings Inc. (LQ), Annaly Capital Management, Inc. (NLY), Transocean Ltd. (RIG), XO Group Inc. (XOXO), Qualcomm Inc. (QCOM), Facebook (FB), Fitbit, Inc. (FIT), GoDaddy Inc. (GDDY), MetLife, Inc. (MET), Take-Two Interactive Software, Inc. (TTWO).

Tomorrow morning before the open, Avon Products, Inc. (AVP), Time Inc. (TIME), CyberArk Software Ltd. (CYBR), Medgenics (MDGN), Hyatt Hotels Corporation (H), Intercept Pharmaceuticals (ICPT), Lamar Advertising Company (LAMR), Chesapeake Energy Corporation (CHK), AMC Networks Inc. (AMCX), Fortress Investment Group LLC (FIG), ReWalk Robotics (RWLK), adidas AG ADR (ADDYY), 3D Systems Corp. (DDD), Vertex Energy, Inc. (VTNR), Cheniere Energy, Inc (LNG), Level 3 Communications, Inc. (LVLT), Arrow Electronics Inc (ARW), Credit Suisse Group AG (CS) and Cigna Corp. (CI) are expected to report.

The current leading FB bullish swing trade strategy is: 15 day Stochastics is Bearish AND 16 EMA Below 43 DEMA, daily bars.

AAPL compressed yesterday, crunching down 1.83% on strong volume. AAPL opened at 113.47 to high volume and tagged an intra-day high of 113.77 minutes later on high volume before beginning a long, treacherous and controlled crunch on moderately heavy volume down to an intra-day low of 110.53 at 2:18pm, helped in part by the latest FBI announcement that stung the market at 1pm. Subsequently after 2:30pm, AAPL bounced and hung dearly to the 111-line on moderate volume before popping up to mid-111 into the close. AAPL ended down $1.98 cents at 111.49 and lost 9 cents in after-hours to 111.40.

This morning in pre-market, AAPL opened lower and dipped below 111 in sympathy with Futures and later recovered low to mid-111 alongside sweetening Futures and news that AAPL is not interested in TWX. AAPL is currently down 23 cents at 111.26 as we approach the open.


Classic max-pain is 114. There is a FOMC Announcement at 2pm today.


ADP reports US private sector adds 147,000 jobs in October:
http://www.reuters.com/article/us-usa-economy-adp-idUSKBN12X1FG?il=0

Market set to slip amid election uncertainty:
http://www.reuters.com/article/us-usa-stocks-idUSKBN12X1BH

Dollar slumps, yen and franc surge as election rattles markets:
http://www.reuters.com/article/global-forex-idUSL8N1D347X

Alibaba sales beats estimates on cloud, e-commerce growth:
https://www.bloomberg.com/news/articles/2016-11-02/alibaba-revenue-beats-estimates-as-cloud-business-spurs-growth

Square posts jump in revenue, raises full-year forecast:
http://www.reuters.com/article/us-square-results-idUSKBN12W4YI

Chipmaker Broadcom to buy network gear maker Brocade for $5.5 billion:
http://www.reuters.com/article/us-brocade-commns-m-a-broadcom-idUSKBN12X1A8

Herbalife CEO will hand reins to operating chief next year:
http://www.bloomberg.com/news/articles/2016-11-01/herbalife-ceo-will-hand-reins-to-operating-chief-next-year

MacBook Pro review:
http://www.theverge.com/2016/11/2/13490774/apple-macbook-pro-review-2016-13-inch-laptop

iPhone 7 Plus vs. Google Pixel:
https://www.cnet.com/news/apple-iphone-7-plus-google-pixel-video-comparison/

Apple will get 3-5 year lead in augmented reality and use it for autonomous driving, reports KGI:
https://9to5mac.com/2016/11/02/apple-augmented-reality-autonomous-driving-kgi/

Facebook blocks insurer discount plan:
http://www.bbc.com/news/business-37847647

The Xiaomi Mi Note 2 sells out in 50 seconds In 1st flash sale:
http://www.techtimes.com/articles/184568/20161102/it-took-only-50-seconds-for-the-xiaomi-mi-note-2-to-sell-out-in-first-flash-sale.htm

NASA advisory committee questions SpaceX's unorthodox fueling process:
http://www.latimes.com/business/la-fi-spacex-nasa-20161101-story.html

New twist explains how a single giant impact could blast the moon into being:
https://www.washingtonpost.com/news/speaking-of-science/wp/2016/11/01/new-twist-explains-how-a-single-giant-impact-could-blast-the-moon-into-being/

NASA unveils a laser-based nose to sniff for signs of life on Mars:
https://www.washingtonpost.com/news/morning-mix/wp/2016/11/02/nasa-unveils-a-laser-based-nose-to-sniff-for-signs-of-life-on-mars/

"Bionic" plants can detect explosives:
http://www.bbc.com/news/science-environment-37823909

Mysterious "Alaskan Ice Monster" in government video not so monstrous after all:
https://www.washingtonpost.com/news/morning-mix/wp/2016/11/02/mysterious-alaskan-ice-monster-surfaces-in-bureau-of-land-managment-video/

6-year old boy dies of mysterious Polio-like symptoms as disease is on the rise in the US:
http://people.com/human-interest/six-year-old-boy-dies-polio-like-symptoms/

Zika virus shrinks testicles, reduces sperm counts in mice:
http://www.techtimes.com/articles/184464/20161102/zika-virus-shrinks-testicles-reduces-sperm-counts-in-mice-should-men-worry-about-infertility-risks.htm

Bad mother:
http://www.bbc.com/news/world-us-canada-37845998

Yes.
http://www.wbur.org/cognoscenti/2016/11/01/heavy-meddle-184-steve-almond


Today's Economic Calendar:
7:00 MBA Mortgage Applications
8:15 ADP Jobs Report
8:30 Gallup U.S. Job Creation Index
8:30 Treasury Refunding Quarterly Announcement
10:30 EIA Petroleum Inventories
2:00 PM FOMC Announcement


Notable earnings this afternoon after the bell: CLCT, G, IMI, PAA, *FOXA*, OTTR, PAGP, AGU, DPM, FRT, NGHC, OESX, AEL, BGC, BRKR, CTL, CXW, ENSG, FMC, FNF, HMCBF, *HUBS*, KGC, MATR, *PRU*, QTWO, QUIK, RYN, VNDA, *WFM*, *ZNGA*, ALNY, *AIG*, BCOV, CTRE, DVA, LPLA, *RRGB*, FALC, HR, HSTM, IOSP, WTS, XEC, LPI, BEAT, CF, CSLT, EQC, EVTC, GPOR, HOS, ITRI, LOPE, MANT, MRO, NVDQ, SWM, TEP, CHEF, EQIX, MCHX, REXR, SBRA, LTC, ESRT, MHLD, ROG, VVC, ARC, BBRG, *CAR*, FMI, *FSLR*, HF, MASI, PEI, PGRE, RUBI, SF, TROX, TX, WMGI, XENT, *GIL*, GSS, PARN, SRC, AWK, AWR, BEL, CLR, *DMRC*, IL, INN, KEYW, LGCY, *LQ*, *NLY*, PE, PGH, PRAH, RICE, *RIG*, RLJ, SBY, SLRC, SUNS, UVE, WPX, XPO, FOE, NPO, RRD, SUMR, TCAP, AHP, CBPO, HASI, INOV, PEGA, PARR, AXGN, CODI, DPLO, FOXF, MGNX, NSTG, PTCT, SP, TPC, WMC, AERI, AVD, ALIM, BREW, CDI, CPE, GNCMA, GRP.U, HABT, HDSN, LHCG, MYRG, OTCM, PCOM, PLPM, RWC, TDGCF, AREX, ERII, GPL, HIIQ, IRG, KTWO, TACT, *XOXO*, MCF, FNHC, JONE, NEWT, XNCR, REGI, WTI, AMRS, BKCC, CCRN, FRSH, KCAP, LIMAF, NNBR, NSYS, OME, PEIX, GNK, KTOS, CORR, FPI, CGEAF, DWCH, *QCOM*, PACB, MWA, BKFS, CGI, *FB*, HOLX, MTGE, QGEN, COHR, EPAY, EYES, HBM, TEGP, ACLS, FTK, BKH, ALL, CABO, CSGS, *FIT*, *GDDY*, HIVE, IAC, IMMU, JCAP, KE, LNC, *MET*, OSUR, RMP, RRTS, TWO, NBIX, USDP, UNIS, ACHI, EXAR, MNDJF, KGILF, GAIN, RXN, *TTWO*, WSTL, IXYS, NOVT, MUSA, TVIA, ANZBY, LSI

And tomorrow before the open: FLDM, MPW, AFSI, NXTM, LGND, *AVP*, DW, GNCA, NNN, OUTKF, THS, *TIME*, *CYBR*, AMAG, BDRFF, CLMT, GEO, *MDGN*, VIP, AAWW, AFRAF, AGIO, DNR, FINGF, GEL, GTS, *H*, HII, IQNT, LCSHF, LDOS, RIOCF, STFC, TGP, TK, TOO, TVPT, IRWD, CCC, COMM, EBGUF, ENB, PNW, TNK, PDCE, ONDK, ANIP, CRZO, *ICPT*, INSY, *LAMR*, LXP, STOR, PRA, *CHK*, CLDT, ECA, HFC, LBY, SAGE, SHLX, SQBG, AMRN, SFM, AAON, ACIW, *AMCX*, ANSS, APA, CCOI, CNSL, ENOC, *FIG*, GLOG, GOGO, HMHC, IPCC, KOP, MITL, PWR, RAS, RDUS, RGEN, ROIAK, *RWLK*, SPAR, STAR, TWI, UNT, VWR, XLRN, ZEUS, HPP, PGTI, SGMS, HSC, MGA, OGE, WPG, ARHVF, CRIS, ACTA, VGR, ACRE, FVE, IBP, LINC, INTT, *ADDYY*, CMLEF, CNQ, GTT, PRFT, SNCAF, USCR, USPH, WHF, HCOM, EPZM, GNE, ONCE, AMOT, CWEI, DIIBF, EFOI, FMSA, NGS, ORN, RMGN, SNSS, TICC, DWSN, NERV, VICL, *DDD*, BTG, TGD, *VTNR*, FI, WILN, BLL, *LNG*, *LVLT*, RGLD, BCE, CHTR, HAR, MITK, ARCB, HRC, NMKTF, *ARW*, SMG, BEP, COCAL, GOLD, MDU, TGI, TRR, AAC, BDX, BWINB, CHD, EVA, EXK, HIFR, IEP, IT, LMRK, RFP, RSAIF, SNN, SNOW, TDY, WRLD, BATS, AKRX, *CS*, ING, CVO, PBH, QBCRF, NAVB, MIXT, ROLL, TATYF, SAPIF, SPGI, DLGNF, PBSFF, *CI*, SCGLF, IMASF, FNMA, LFUS, SCMWY, MSGN, CQH, FUPEF, INSM, TORXF, UBSFF

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