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Apple Today - 8/18/2016 (AAPL)

seymour_greenz • August 18th 2016 09:30:07 AM

Good Morning,

NASDAQ Futures are down 10 with -11 Fair Value, S&P Futures are down 3 with -3 Fair Value and Dow Futures are down 18 as the FOMC minutes are digested among another onslaught of economic data on this Thursday. Some earnings late bloomers reports are also rolling in and are expected to report later. Futures were up in early morning, peaked just after 1am and slipped into negative territory after 5:30am, accelerating downwards after 7am and are now at the lows as we approach the open.

Asian markets ended mixed. China went down 0.17%, Hong Kong gained 0.98% and Japan dropped 1.55%. European markets are mostly up, but not by much. The UK is up 0.03%, France is down 0.03% and the Germany is in the lead, up 0.15%.

Commodities are mixed this morning. Oil is up 0.64%, natural gas is up 0.53% and gold is up 0.53%. Unleaded gas is down 0.36% and heating oil is up 0.09%. Metals are up. Meat is mixed. Cocoa, coffee, cotton and corn are up while wheat and soybeans are down.

World stocks rise, dollar weakens on divided Fed. Dollar at 7-week low as Fed minutes show little support for rate rise. British shoppers defy Brexit shock as spending jumps in July.

Cisco Systems, Inc. (CSCO) reported Q4 results yesterday afternoon with a 2% drop in sales and 5,500 jobs cuts and is down nearly 1.5% in pre-market. Agilent Technologies Inc. (A) announced Q3 earnings with a revenue miss and is down nearly 4.5%. Briggs & Stratton Corporation (BGG) reported Q4 results that missed expectations and is down nearly 11.5%. On the other hand, NetApp, Inc. (NTAP) announced a profitable Q1 with adjusted profit of 46 cents per share that topped forecasts and is up nearly 8.5%.

Wal-Mart Stores, Inc. (WMT) reported Q2 results this morning that beat estimates and is up over 2.5% in pre-market. Toro Company (TTC) announced Q3 earnings that met forecasts and is down slightly. Perry Ellis International Inc. (PERY) reported a Q2 loss that beat expectations and plans to close 15 stores and is up nearly 2.5%. Hormel Foods Corporation (HRL) announced Q3 results that beat expectations and raised outlook and is up over 1%.

This afternoon after the bell, look out for earnings from DeVry Education Group Inc. (DV), Applied Materials, Inc. (AMAT), The Gap, Inc. (GPS), Ross Stores, Inc. (ROST) and New York & Company, Inc. (NWY).

Tomorrow morning before the open, The Estée Lauder Companies Inc. (EL), Deere & Company (DE), Foot Locker, Inc. (FL), Cheetah Mobile Inc. (CMCM) and The Madison Square Garden Company (MSG) are expected to report.

AAPL got caught in a gravity field and though it fought off the lows, wound up down 0.15% on low volume. AAPL opened down at 109.10 to high volume and took an immediate dip to the low of the day of 108.34 at 9:42am on high volume before bouncing back into the upper-109 area before 10am. AAPL spent the next 3 hours in this zone before pushing up above 109 into 1pm on mild volume and then spending the rest of the afternoon in the low-109 area with periodic tests of 109. AAPL went on to set a high of 109.37 at 2:14pm on moderately high volume and saw a 3pm dip into the upper-108 area on mild volume before ending near the highs but yet still down 16 cents for the day at 109.22 and then went on to gain back 2 more cents in after-hours to 109.24.

This morning in pre-market, AAPL opened up higher in conjunction with Futures in the low-109 area but slipped towards 109 as Futures pulled back. AAPL is currently down 15 cents at 109.07 as we approach the open.

Classic max-pain is 105.

World stocks rise, dollar weakens on divided Fed:

Dollar at 7-week low as Fed minutes show little support for rate rise:

British shoppers defy Brexit shock as spending jumps in July:

Japan exports tumble most since financial crisis, policymakers meet over yen moves:

Walmart shares jump, beats on earnings and sales:

Cisco Systems to cut 5,500 jobs after reporting 2% drop in revenue:

Are Apple sales down at Target?

Uber claims London's English exam for drivers is "harder than the test for British citizenship":

Uber's 1st self-driving fleet arrives in Pittsburgh this month:

Self-driving buses take to roads alongside commuter traffic in Helsinki:

SolarCity to lay off staff, cut costs:

Tesla just hired a key Apple engineer to help improve Model 3 reliability:

AMD shows its Zen CPU can compete with Intel's best:

Intel explains how USB-C could be far better than the headphone jack:

Xiaomi's Q2 2016 results indicate trouble in paradise:

Is Russia hacking the US election?

US ready to hand over the internet's naming system:

Watch a star explode after "hibernating":

Video captures the violent act of coral bleaching:

If you dump your pet goldfish into a lake, it will grow into an enormous pest:

Compound may kill pain like opioids, without overdose risk:

Florida Keys opposition stalls tests of genetically altered mosquitoes:

Today's Economic Calendar:
8:30 Initial Jobless Claims
8:30 Philly Fed Business Outlook
9:45 Bloomberg Consumer Comfort Index
10:00 Fed's Dudley Speech
10:00 Leading Indicators
10:30 EIA Natural Gas Inventory
4:00 PM Fed's Williams: Economic Outlook
4:30 PM Money Supply
4:30 PM Fed Balance Sheet

Notable earnings this afternoon after the bell: *DV*, *AMAT*, CRMT, *GPS*, *ROST*, MENT, CISG, CIB, *NWY*, CCIH, SPWH, LND, DUETF, WOPEF

And tomorrow before the open: *EL*, *DE*, *FL*, SMRT, BKE, HIBB, *CMCM*, GMAN, TUES, *MSG*, ALSWF, FPAFY, GRO

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