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Apple Today 12/06/2016 (AAPL)

seymour_greenz • December 6th 2016 10:59:24 AM

Good Morning,

Welcome back. S&P Futures are up 4 with +4 Fair Value, NASDAQ Futures are up 11 with +14 Fair Value and Dow Futures are up 17 as the indexes push to new highs.

The economic calendar has a handful of notable metrics this morning, including International Trade, Productivity and Costs, Gallup US ECI, Chain Store Sales and Factory Orders.

Earnings winners include AutoZone, Inc (AZO), up over 1% and Toll Brothers Inc. (TOL), up nearly 1.5% while the big earnings stinker is The Michaels Companies (MIK), down nearly 10%.

Futures were down in early morning, hitting lows at 3:30am and then bouncing to positive territory and are near the highs as we approach the open.

Asian markets ended mixed. China went down 0.16%, Hong Kong gained 0.75% and Japan went up 0.47%. European markets are up. The UK is up 0.21%, Germany is up 0.38%, and France is leading the advance, up 0.46%.

Commodities are mixed this morning. Oil is down 1.74%, natural gas is up 1.01% and gold is down 0.18%. Unleaded gas is down 0.78% and heating oil is down 0.88%. Metals are down except platinum. Meats are mixed. Cotton, corn, wheat and soybeans are up while cocoa and coffee are down.

US productivity up 3.1 percent in Q3. Oil falls from 16-month high as OPEC production keeps on rising.

AutoZone, Inc (AZO) reported Q1 results with profit of $9.36 that met expectations and is up over 1% in pre-market. HD Supply (HDS) announced adjusted Q3 earnings of 83 cents per share that exceeded expectations and is up over 0.5%. Toll Brothers Inc. (TOL) reported Q4 results with net income of 67 cents per share that missed estimates and is up nearly 1.5%. The Michaels Companies (MIK) announced Q3 results with adjusted earnings of 40 cents per share that missed expectations and is down nearly 10%.

This afternoon after the bell, look out for earnings from Dave & Buster's Entertainment, Inc. (PLAY).

Tomorrow morning before the open, Vera Bradley (VRA) is expected to report.

A leading bearish NFLX swing trade strategy is: When the 3 EMA is Below the 17 SMA AND the price is Above the 74 EMA, daily bars.

AAPL dipped into murky waters and then reeled back up a bit, ending down 0.72% on average volume. AAPL opened at 110 to high volume immediately setting an intra-day high of 110.03 before quickly dropping sharply on high volume to an intra-day low of 108.25 before bouncing back to the upper-109 area on moderate volume. AAPL then sold off to below 109 by lunchtime on low volume, bouncing slightly afterwards and generally remained in the low-109 zone on low volume for the remainder of the afternoon. AAPL ended the day down 79 cents at 109.11 and remained flat in after-hours.

This morning in pre-market, AAPL opened higher and briefly dipped below 109 setting a pre-market low of 108.95 at 6:28am before Credit Suisse maintained Outperform and a $150 target. AAPL subsequently made a beeline for 110.50 and setting a pre-market high of 110.50 at 7:56am before settling back under 110 later in the morning. AAPL is currently up 82 cents at 109.93 as we approach the open.


Classic max-pain is 110.


US productivity up 3.1 percent in Q3:
http://www.usnews.com/news/business/articles/2016-12-06/us-productivity-up-31-percent-in-third-quarter

Oil falls from 16-month high as OPEC production keeps on rising:
https://www.bloomberg.com/news/articles/2016-12-05/oil-falls-from-16-month-high-as-opec-seeks-wider-cut-cooperation

Tim Cook says Apple Watch sales set record 1st holiday weekend:
http://www.zdnet.com/article/apple-watch-sales-set-record-first-holiday-weekend-on-track-for-record-quarter-cook/

Apple blames exposure to "ambient air" for iPhone 6S battery failures:
http://www.theverge.com/2016/12/6/13853280/apple-iphone-6s-battery-problems-fix-explanation

Amazon's foray into supermarkets is a primer for grocery disruption:
http://qz.com/853830/amazon-grocery-disruption/

Chipotle plunges after saying that customer service has slipped:
https://www.bloomberg.com/news/articles/2016-12-06/chipotle-declines-after-saying-that-customer-service-has-slipped

Google meets renewable energy goal for global operations:
http://www.reuters.com/article/us-alphabet-energy-idUSKBN13V1Q7

Android 7.1.1 update brings GIFs, new emoji and Pixel features:
http://www.wired.co.uk/article/android-711-device-update

Facebook, Twitter, YouTube and Microsoft are teaming up:
http://qz.com/853930/facebook-fb-twitter-twtr-youtube-goog-and-microsoft-msft-are-teaming-up-against-online-terrorist-content/

Nintendo offers $20,000 bounty for 3DS exploits:
http://arstechnica.com/gaming/2016/12/nintendo-3ds-exploit-bounty/

Lego appoints British boss in brand expansion:
http://www.bbc.com/news/business-38219700

Meizu's $33 touchscreen fitness band with heart rate monitoring:
https://techcrunch.com/2016/12/06/meizu-2/

Cassini probe will have busy final year at Titan:
http://www.space.com/34886-cassini-busy-final-year-at-titan.html

NASA Spinoff shows off space tech that helps on Earth:
https://www.cnet.com/au/news/nasa-spinoff-shows-off-space-tech-that-helps-on-earth/

Warming US could see extreme rains increase 5x:
https://www.scientificamerican.com/article/warming-u-s-could-see-extreme-rains-increase-fivefold/

C-sections altering course of human evolution, says new childbirth research:
http://www.independent.co.uk/news/science/success-caesarean-sections-altering-course-human-evolution-babies-bigger-heads-a7458066.html

What determines if a woman will have a Caesarean?
http://www.bbc.co.uk/news/health-38223502

Bacteria carrying gene resistant to carbapenem antibiotics discovered in US pig farm:
http://www.techtimes.com/articles/187933/20161206/bacteria-carrying-gene-resistant-to-carbapenem-antibiotics-discovered-in-us-pig-farm.htm

It's never too late to stop smoking:
http://www.chicagotribune.com/lifestyles/health/sc-never-too-late-to-quit-smoking-health-1207-20161201-story.html

Many kids' headphones carry risk of hearing loss, study finds:
http://www.nytimes.com/2016/12/06/health/headphones-hearing-loss-kids.html

White wine may increase melanoma risk:
http://philadelphia.cbslocal.com/2016/12/05/study-white-wine-may-increase-melanoma-risk/

It isn't nuts to think that they can give you a longer life:
http://www.nydailynews.com/life-style/health/handful-nuts-day-doctor-study-article-1.2899599


Today's Economic Calendar:
8:30 International Trade
8:30 Productivity and Costs
8:30 Gallup US ECI
8:55 Redbook Chain Store Sales
10:00 Factory Orders

Notable earnings this afternoon after the bell: APDN, ALOG, AVAV, HQY, OXM, SIGM, SEAC, POWL, *PLAY*

And tomorrow before the open: BF.B, JW.A, KFY, *VRA*, HOFT, EMKR, DLMAF

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