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Apple Today - 10/07/2016 OPEX (AAPL)

seymour_greenz • October 7th 2016 09:51:16 AM

Good Morning,

Happy Friday. NASDAQ Futures are down 11 with -6 Fair Value, S&P Futures are down 6 with -3 Fair Value and Dow Futures are down 32 on this 1st OPEX Friday of October. There's a full economic calendar today including the September jobs report at 8:30am even as the earnings calendar is in a "calm before the storm" mode. The British pound got hit by a mysterious "flash crash", causing a temporary drop of 9% overnight and speculation as to the catalyst. Futures were down in early morning and dipped further at 3am, recovered an hour later then slipped again shortly before 6am and are off the lows as we approach the open.

Asian markets ended down. China was closed for a National Day, Japan dropped 0.23% and Hong Kong led the decline, down 0.42%. European markets are mixed. The UK is up 1.00%, Germany is down 0.20% and France is down 0.33%.

Commodities are mixed this morning. Oil is up 0.04%, natural gas is up 1.34% and gold is up 0.33%. Unleaded gas is down 0.67% and heating oil is down 0.52%. Metals are up. Meat is mostly up. Cotton, corn, wheat and soybeans are up while cocoa and coffee are down.

Market set to open flat after September jobs report. US adds 156,000 jobs as unemployment climbs to 5%. US job growth slows, clouds case for Fed rate hike. Flash crash sees the pound gyrate in Asian trading. Oil holds near $50 as Russia sees no deal with OPEC next week.

Restaurant chain Ruby Tuesday, Inc. (RT) reported Q1 earnings with an adjusted loss of 11 cents per share yesterday afternoon that missed expectations and is down over 5% in pre-market.

AAPL showed some life yesterday, pulsing up 0.74% on lower than average volume. AAPL opened up at 113.65 to high volume and quickly tagged 114.01 at 9:39am on strong volume before dipping below 113.5 15 minutes later. AAPL struggled in the mid-113 area for the next hour on moderate volume and dipped again after 11am, setting an intra-day low of 113.13 at 11:17am on moderate volume. AAPL bounced back sharply for lunch on increasing volume and recovered 114 by mid-lunchtime, holding strong through the afternoon. AAPL went on to set an intra-day high of 114.34 at 2:39pn on low volume and dipped towards 114 heading into the last hour on mild volume. AAPL ended the day up 84 cents at 113.89 and dropped 8 cents in after-hours to 113.81

This morning in pre-market, AAPL opened lower in conjunction with Futures and gravitated towards the mid-113 area until later in the morning when RBC Capital maintained AAPL coverage with outperform and a $125 price target, goosing AAPL back up into the above-114 area. AAPL is currently up 27 cents at 114.16 as we approach the open.

Classic max-pain is 113. Today is OPEX. Have a good Columbus Day weekend with your friends and family. The stock market is open on Monday for Columbus Day but the bond market is closed.

Market set to open flat after September jobs report:

US adds 156,000 jobs as unemployment climbs to 5%:

US job growth slows, clouds case for Fed rate hike:

Flash crash sees the pound gyrate in Asian trading:

Oil holds near $50 as Russia sees no deal with OPEC next week:

Apple October event looks more likely as internet rumours hint at new Macbook:

Apple reportedly taking steps to improve its cloud services:

Google Pixel XL vs iPhone 7 Plus:

Samsung sees third quarter profit jump as chip surge eases smartphone recall blues:

Facebook wants to bring "Free Basics" to the US:

Here's why Twitter is plummeting:

Verizon reportedly asks for $1B discount on Yahoo sale:

Amazon Echo review:

Sony's new cameras show just how drastically photography is changing:

Snapchat going public?

Elon Musk is talking about going to Mars like it's an Apple event :)

How we can build another Earth?

Can all great apes "read minds" like humans do?

Why are Nobel Prize winners getting older?

That's a lot of candles!

Do you need extra screening for breast cancer?

How Zika could make its way north:

Today's Economic Calendar:
8:30 Non-farm payrolls
10:30 Stanley Fischer
12:45 PM Fed's Mester speech
1:00 PM Baker-Hughes Rig Count
3:00 PM Fed's George speech
3:00 PM Consumer Credit
4:00 PM Fed's Reserve Gov. Lael Brainard speech

Notable earnings this afternoon after the bell: STRP, ODC, TSRI, VIVE

And on Monday before the open: SYEV

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