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Apple Today 1/13/2017 OPEX (AAPL)

seymour_greenz • January 13th 2017 11:00:15 AM

Good Morning,

S&P Futures are up 2 with +1 Fair Value, NASDAQ Futures are up 8 with +5 Fair Value and Dow Futures are up 21 on this Friday OPEX before an extended Martin Luther King Jr. weekend. As the new earnings season dawns, financials are pushing to the head of the line with Bank of America (BAC), BlackRock (BLK), JPMorgan Chase (JPM) and Wells Fargo (WFC) reporting this morning.

This morning's economic calendar includes Retail Sales, Fed's Harker Speech, Business Inventories and Consumer Sentiment followed by Baker-Hughes Rig Count this afternoon.

Most of the primarily financial companies reporting earnings this morning are relatively flat, however First Horizon National Corporation (FHN) is down over 3.5% after missing expectations.

Futures were up in early morning and peaked just after 6am, dropping sharply later in the morning and while still positive are near the lows as we approach the open.

Asian markets ended mostly up. China went down 0.21%, Hong Kong went up 0.47% and Japan gained 0.80%. European markets are up. The UK is up 0.40%, Germany is up 0.61% and France is leading the advance, up 0.86%.

Commodities are mixed this morning. Oil is down 0.79%, natural gas is down 0.65% and gold is down 0.03%. Unleaded gas is down 0.13% and heating oil is down 0.73%. Metals are down. Meats are mostly down. Cotton is up while cocoa, coffee, corn, wheat and soybeans are down.

US wholesale prices rise 0.3% led by costlier gas, food. Global stocks mixed after weak Chinese trade data.

Bank of America Corporation (BAC) reported Q4 results this morning with a 43% increase in profit and is down over 0.5% in pre-market. JPMorgan Chase & Co. (JPM) announced Q4 results that beat expectations and is up nearly 0.5%. Wells Fargo & Co. (WFC) reported Q4 results that missed expectations and is down nearly 0.5%. BlackRock, Inc. (BLK) announced Q4 results with adjusted earnings of $5.14 per share that beat expectations and is up nearly 1%. First Republic Bank (FRC) reported Q4 earnings of $1.03 per share, exceeding expectations and is up slightly. First Horizon National Corporation (FHN) announced Q4 results with earnings of 23 cents per share that missed expectations and is down over 3.5%.

A leading bearish WFC trade strategy is: When the 20 SMA is Below the 31 DEMA AND the 5 day Stochastics is Bullish, daily bars.

AAPL looked down the tracks back at 120 yesterday, ending down 0.42% on relatively low volume. AAPL opened up at 118.80 to high volume and quickly regained 119 on high volume then struggled near 109 and slipped down to the low-108 area in the morning on moderate volume, hitting an intra-day low of 118.21 at 11:20am on moderate volume before bouncing back to 119 during lunchtime on low volume. AAPL remained in a narrow range around 119 for most of the afternoon on low volume and popped into the close towards 119.25 on moderate volume. AAPL ended the day down 50 cents at 119.25 and dropped 6 more cents in after-hours to 119.19.

This morning in pre-market, AAPL opened lower and hit a pre-market low of 119 before bouncing back and reaching 119.35 later in the morning. AAPL is currently down 15 cents at 119.10 as we approach the open.


Classic max-pain is 117. Today is OPEX. Have a good extended weekend with your friends and family. The market is closed on Monday for Martin Luther King Jr. Day.


US wholesale prices rise 0.3% led by costlier gas, food:
http://www.usnews.com/news/business/articles/2017-01-13/us-wholesale-prices-rise-03-pct-led-by-costlier-gas-food

Global stocks mixed after weak Chinese trade data:
http://www.usnews.com/news/business/articles/2017-01-13/asian-stocks-mixed-after-china-data

Yellen sees no serious short-term obstacles for US economy:
https://www.bloomberg.com/news/articles/2017-01-13/yellen-sees-no-serious-short-term-obstacles-for-u-s-economy

Wells Fargo profit falls 5.4% as mortgage revenue declines:
https://www.bloomberg.com/news/articles/2017-01-13/wells-fargo-profit-falls-5-4-as-mortgage-banking-revenue-slumps

Bank of America profits surge on cost cuts, trading gains:
http://www.reuters.com/article/us-bank-of-america-results-idUSKBN14X1CE

World's jobless to rise amid economic uncertainty:
https://guardian.ng/news/worlds-jobless-to-rise-amid-economic-uncertainty-ilo/

Consumer Reports now recommends MacBook Pros:
http://www.consumerreports.org/apple/consumer-reports-now-recommends-macbook-pros/

Apple must face consumer lawsuit over iPhone apps monopoly:
https://www.bloomberg.com/news/articles/2017-01-12/apple-must-face-consumer-lawsuit-over-iphone-apps-monopoly

Could Apple iOS and related services revenue surpass $1 trillion In 2017?
http://www.techtimes.com/articles/192373/20170113/apple-ios-and-related-services-revenue-could-surpass-1-trillion-in-2017-predicts-analyst.htm

Now you can hail an Uber from Google Maps:
http://fortune.com/2017/01/13/google-maps-hail-uber/

Is this the Galaxy S8?
http://www.tomsguide.com/us/samsung-galaxy-s8-leak,news-24276.html

Nissan picks London for first European on-road autonomous car tests:
http://www.reuters.com/article/us-nissan-autonomous-britain-idUSKBN14X1CT

Panera Bread removes artificial ingredients from US menu:
http://www.reuters.com/article/us-panera-bread-ingredients-idUSKBN14X1IR

Watch live astronaut space walk from the space station:
http://www.usatoday.com/story/news/2017/01/13/watch-live-astronaut-space-walk-space-station/96530370/

A new idea may finally solve the “alien megastructure” theory that has confounded scientists for months:
https://qz.com/884106/tabbys-star-alien-megastructures-and-planet-gobbling-a-strange-new-theory-may-finally-solve-the-mystery-of-an-alien-megastructure-that-has-confounded-scientists-for-months/

Scientists tie tightest knot ever:
http://newatlas.com/worlds-tightest-knot-advanced-materials/47371/

Northeast warming more rapidly than most of US:
https://www.bostonglobe.com/metro/2017/01/12/northeast-will-experience-faster-warming-from-climate-change-new-study-finds/nitce6eK8zqQN2LXZXgvwK/story.html

Study finds 47% of fish served at Los Angeles sushi spots mislabeled:
http://www.huffingtonpost.com/entry/study-finds-47-percent-of-fish-served-at-los-angeles-sushi-spots-serving-lots-is-mislabeled_us_587869b5e4b0b3c7a7b0b7a3

Scientific report on marijuana confirms effective pain treatment, but risks and unanswered questions remain:
http://arstechnica.com/science/2017/01/massive-scientific-report-on-marijuana-confirms-medical-benefits/

How are stress and heart attacks linked?
http://www.cnn.com/2017/01/11/health/stress-heart-attack-stroke-study/

US salmon may carry Japanese tapeworm, scientists say:
http://www.cnn.com/2017/01/11/health/salmon-tapeworm-food-study/

Is turmeric a miracle spice or not?
http://time.com/4633558/turmeric-curcumin-inflammation-spice/

Superbug that killed woman is resistant to all 26 American antibiotics:
https://www.theatlantic.com/health/archive/2017/01/a-superbug-resistant-to-26-antibiotics-killed-a-woman-itll-happen-again/513050/


Today's Economic Calendar:
8:30 Retail Sales
9:30 Fed's Harker Speech
10:00 Business Inventories
10:00 Consumer Sentiment
1:00 PM Baker-Hughes Rig Count

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