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Apple Today - 9/30/2016 OPEX (AAPL)

seymour_greenz • September 30th 2016 09:38:31 AM

Good Morning,

NASDAQ Futures are down 3 with +11 Fair Value, S&P Futures are down 1 with +4 Fair Value and Dow Futures are down 14 on the last day of September and trading day of the month, which also happens to be OPEX as negative Deutsche Bank (DB) headlines continue to swirl, catalyzing traders to take action. Today's economic calendar has a few bright spots, including personal income before the bell and consumer sentiment later at 10am. Earnings on a Friday are light as expected and Futures were down in early morning, hitting a low just before 3:30am and then bouncing back into the neutral zone by 7am and are at the highs as we approach the open.

Asian markets ended mostly down. China went up 0.21%, Hong Kong fell 1.86% and Japan dropped 1.46%. European markets are down. The UK is down 0.77%, Germany is down 0.76% and France is leading the decline, down 1.32%.

Commodities are mostly down this morning. Oil is down 0.42%, natural gas is down 0.57% and gold is up 0.08%. Unleaded gas is down 0.64% and heating oil is down 0.20%. Metals are up. Meat is mixed. Cocoa, coffee, cotton, corn, wheat and soybeans are all down.

US consumer spending flat in August as auto purchases drop.

Costco Wholesale Corporation (COST) reported Q4 earnings yesterday afternoon that beat expectations with a net income of $1.77, partially due to lower fees from credit card partner Visa, and is up nearly 2% in pre-market.

McCormick & Company, Inc. (MKC) announced Q3 results this morning with adjusted earnings of $1.03 per share, beating expectations and is up over 1.5% in pre-market.

AAPL dropped into the sub-112 zone yesterday afternoon, splashing back to mid-112 shortly after and ending down 1.56% on average volume. AAPL opened down at 113.20 to high volume and quickly popped up to an intra-day high of 113.80 at 9:38am on moderate volume before falling a full point within 45 minutes on strong volume. AAPL struggled in the mid-112 area, reaching into the low-112 area shortly after 11am on moderate volume, then bouncing back up to 113 by mid-lunchtime on moderate volume and then dropping again harshly to an intra-day low of 111.80 at 1:56pm on moderate volume. AAPL bounced back from the lows and made it back above 112.5 in the last 30 minutes of the day only to sink back into the low-112 area on moderate volume into the close. AAPL ended the day down 1.78 at 112.17 and gained 2 cents in after-hours to 112.19.

This morning in pre-market, AAPL opened lower in conjunction with Futures, touching the mid-11 area before marching back up to 112 before 6am on low volume. AAPL continued to improve alongside Futures and worked up to a pre-market high of 112.85 at 7:37am alongside a price target raise from Citigroup from 120 to 130 and curiously premature buzz on iPhone 8. AAPL is currently up 55 cents at 112.73 as we approach the open.

Classic max-pain is 112. Today is OPEX. Have a good weekend with your friends and family.

US consumer spending flat in August as auto purchases drop:

Cryan defends Deutsche Bank as some clients reduce exposure:

Eurozone inflation doubles as low oil price impact fades:

Hoboken mom killed in crash recently moved to N.J. to start new life:

Sources say NXP Semiconductors exploring sale to Qualcomm:

Nissan boss warns on UK investment:

Apple building $45 million research center in Beijing to develop new hardware:

iPhone exploit bounty surges to an eye-popping $1.5 million:

Fuze case for iPhone 7 wants to "bring back the jack":

Angry man smashes iPhones and Macs at Apple Store in France:

Microsoft merges Bing, Cortana, and Research to make 5,000-strong AI division:

Salesforce tries to block Microsoft's LinkedIn acquisition:

Google is giving Uber another reason to worry:

Best Buy is holding midnight openings at 350 stores for the PlayStation VR:

The US government set to "give away the Internet" on Saturday:

Avoid these 5 common Social Security screw-ups:

Goodbye, Rosetta!

Who should go to Mars?

Mars crust influences atmosphere of red planet:

How a strange Triassic reptile could change what an arm looks like:

Researchers studied 1,000 animal species and found the one most likely to murder one of its own:

Time to change the ink in the bone printer:

Thailand confirms 2 cases of Zika-linked microcephaly:

For Zika-infected pregnancies, microcephaly risk may be as high as 13%:

Utah Zika case shows physical contact can spread the virus:

Uh, I think this guy is doing something wrong?

Today's Economic Calendar:
8:30 Personal income and outlays
8:30 Chicago PMI
10:00 Consumer sentiment
1:00 PM Baker-Hughes Rig Count
1:00 PM Fed's Kaplan speech

Notable earnings this afternoon after the bell: OSN

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