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Apple Today - 7/29/2016 OPEX (AAPL)

seymour_greenz • July 29th 2016 09:30:18 AM

Good Morning,

NASDAQ Futures are up 5 with +9 Fair Value, S&P Futures are down 3 with -2 Fair Value and Dow Futures are down 32 as we wind up another week and our last July OPEX with a dose of economic data. Futures were flipping from slightly green to red in early morning and are hanging around in slightly negative territory, except NASDAQ which is buoyed by Alphabet earnings results. Dow and S&P Futures are slightly red as we await the open.

Asian markets ended mostly down. China dropped 1.11%, Hong Kong went down 1.28% and Japan gained 0.56%. European markets are mostly down. The UK is down 0.54%, Germany is down 0.12% and France is up 0.11%.

Commodities are mostly down this morning. Oil is down 0.80%, natural gas is down 0.70% and gold is up 0.03%. Unleaded gas is down 1.35% and heating oil is down 0.74%. Metals are down except gold. Meat is down. Cocoa is up while coffee, cotton, corn, wheat and soybeans are down.

US economy grew 1.2% in Q2, less than forecasted. US labor costs increase 0.6% in Q2. Weekly jobless claims increased last week.

Alphabet Inc. (GOOG) reported Q2 earnings yesterday afternoon that beat expectations and is up over 4% in pre-market., Inc. (AMZN) announced Q2 earnings with strong results and is up over 2%. Western Digital Corporation (WDC) reported a Q4 earnings loss that topped expectations but is down over 5%. Columbia Sportswear Company (COLM) announced a Q2 loss that missed expectations and is down nearly 2.5%. Ingram Micro Inc. (IM) announced Q2 earnings that beat forecasts and is up over 1%.

Exxon Mobil Corporation (XOM) reported Q2 earnings this morning that missed estimates and is down nearly 3% in pre-market. Chevron Corporation (CVX) announced a Q2 loss and is down nearly 1.5%. Spirit Airlines (SAVE) reported Q2 earnings that topped expectations and is up over 1%. Phillips 66 (PSX) announced Q2 earnings that beat expectations and is up over 0.5%. Merck & Co Inc. (MRK) reported a strong Q2 but mixed outlook and is up over 1%. UBS Group AG (UBS) is up over 3.5% after beating Q2 expectations. Anheuser-Busch Inbev SA/NV (BUD) announced Q2 results and is up nearly 0.5%. United Parcel Service, Inc. (UPS) announced in-line Q2 results showing improvement, confirms 2016 outlook and is down over 1.5%. Barclays PLC (BCS) is up nearly 8.5% on a profitable Q2 that beat expectations. Acadia Healthcare Co. (ACHC) announced Q2 results that beat expectations and is up over 3%. Xerox Corporation (XRX) reported Q2 earnings that beat expectations and is up over 3.5%. CBOE Holdings (CBOE) announced QQ results with a 13.6% increase in profit that missed expectations and is up over 1.5% in pre-market. Cigna Corp. (CI) reported Q2 earnings that missed expectations on rising medical costs and lowered 2016 guidance and is down nearly 8%.

Monday morning before the open, Diamond Offshore Drilling Inc. (DO) and Loews Corporation (L) are expected to report.

The Apple heartbeat continued to show life as AAPL gained 1.35% on lower than average volume. AAPL opened at 102.83 to high volume and immediately put in a low of 102.82 on high volume. AAPL then surged upwards of 104 within 30 minutes and dipped from there to the mid-103 at lunchtime on moderate volume. AAPL bounced from mid-103 to 104 on early afternoon on low volume and milked 104 for over an hour on low volume before taking a shot at mid-104 into the close on moderate volume. AAPL ended the day up 1.39 at 104.34 and gained 20 more cents in after-hours to 104.54.

This morning in pre-market, AAPL opened lower and flipped and flopped about in the low-104 area, momentarily hitting a peak of 104.50 at 8:30am and then afterwards pulled back towards 104.25. AAPL is currently down 9 cents at 104.25 as we approach the open.

Classic max-pain is 97.5.

US economy grew 1.2% in Q2, less than forecasted:

US labor costs increase 0.6% in Q2:

Weekly jobless claims increased last week:

Google silences doubters with blockbuster quarter:

Amazon posts impressive quarterly results:

Exxon Mobil profit misses expectations, stock slides:

Revenue growth lifts UPS profit, confirms 2016 outlook:

Barclays rises as cutbacks, gain in trading ease profit drop:

Apple's negotiating tactics sunk its long-rumored TV service:

Last call for free Windows 10 upgrade:

Wireless keyboards easy to snoop on:

New vibrating space boots:

The cost of physical inactivity is $67.5 billion per year globally:

Today's Economic Calendar:
8:30 GDP Q2
8:30 Employment Cost Index
9:30 PM Fed's Williams Speech
9:45 Chicago PMI
10:00 Consumer Sentiment
1:00 PM Baker-Hughes Rig Count
3:00 Farm Prices

Notable earnings this afternoon after the bell: HTCH

And on Monday before the open: *DO*, *L*, HBP, BSFT, HCOM, UCP, VDNRF, DSPG, MAC

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