Apple Today 1/17/2017 Davos (AAPL)
seymour_greenz • January 17th 2017 11:14:05 AM
Good Morning,
S&P Futures are down 9 with -5 Fair Value, NASDAQ Futures are down 19 with -5 Fair Value and Dow Futures are down 45 on this introductory Tuesday of a breathtaking and historic week. Davos, the World Economic Forum's annual conference kicks off today in of all places, 4,200 miles away in Davos, Switzerland among this week's heavy edgy domestic anticipation. Marking the first appearance by a Chinese leader at Davos, President Xi Jinping stated the world's most important task is to revive the global economy and pressed his case for free trade.
You can learn more about Davos here:
https://www.weforum.org/events/world-economic-forum-annual-meeting-2017
https://en.wikipedia.org/wiki/Davos
Today's economic calendar includes Empire State Mfg Survey, Fed's Dudley Speech and Fed's Reserve Gov. Lael Bralnard speech followed by a speech by Fed's Williams this evening.
Futures were lower in early morning and scraped lows around 6:45am before bouncing slightly and are off the lows as we approach the open.
Asian markets ended mixed. China went up 0.17%, Hong Kong gained 0.54% and Japan dropped 1.48%. European markets are mostly down. The UK is down 0.90%, Germany is up 0.03% and France is down 0.16%.
Commodities are mixed this morning. Oil is up 1.47%, natural gas is down 1.29% and gold is up 1.39%. Unleaded gas is up 0.06% and heating oil is up 0.28%. Metals are up except copper. Meats are up. Coffee, cotton, corn, wheat and soybeans are up while cocoa is down.
Xi makes case for Chinese leadership role in Davos. Uncertainty hit stocks and dollar, gold jumps. New York Manufacturing Index pulls back in January.
This afternoon after the bell, look out for earnings from CSX Corporation (CSX) and Interactive Brokers Group, Inc. (IBKR).
Tomorrow morning before the open, Fastenal Company (FAST), Citigroup Inc. (C), TD Ameritrade Holding Corporation (AMTD), Goldman Sachs Group Inc. (GS) and U.S. Bancorp (USB) are expected to report.
A leading bullish GS trade strategy is: When the 18 SMA is Below the 51 DEMA AND the 31 day Smoothed Stochastics is Bearish, daily bars.
AAPL had a strong week, ending up 0.96% on low volume. On Monday, AAPL fired up like a rocket above 119, ending up 0.92% on slightly lower than average volume. On Tuesday, AAPL set over the 119 horizon, ending up 10% on relatively low volume. On Wednesday, AAPL branched upwards towards 120 amongst an overcast sky, ending up 0.54% on low volume. On Thursday, AAPL looked down the tracks back at 120, ending down 0.42% on relatively low volume. On Friday, AAPL touched down on the 119 OPEX heli-pad, ending down 0.19% on low volume. AAPL opened at 119.10 to high volume and quickly soared up to an intra-day high of 119.62 at 9:36am on strong volume before drifting back down towards 119 by 11am on mild volume. AAPL held the 119-line in a narrow range for the rest of the morning, through lunch and into the afternoon on low volume. After 2pm AAPL dipped into the upper-118 area and bounced back into the close on moderate volume. AAPL ended the day down 0.23 at 119.02 and remained flat in after-hours at 119.02.
This morning in pre-market, AAPL opened lower in conjunction with Futures and dipped to a pre-market low of 118.26 at 6:34am before bouncing back to the mid-118 area on an update from Morgan Stanley maintaining AAPL coverage with Overweight and a $148 target. AAPL is currently down 44 cents at 118.60 as we approach the open.
Classic max-pain is 110.
Xi makes case for Chinese leadership role in Davos:
http://www.reuters.com/article/us-davos-meeting-china-idUSKBN15118V
Uncertainty hit stocks and dollar, gold jumps:
http://www.reuters.com/article/us-global-markets-idUSKBN151016
New York Manufacturing Index pulls back in January:
http://blogs.barrons.com/incomeinvesting/2017/01/17/new-york-manufacturing-index-pulls-back-in-january/
German investor confidence surges as economic momentum picks up:
https://www.bloomberg.com/news/articles/2017-01-17/german-investor-confidence-surges-as-economic-momentum-picks-up
General Motors says to invest additional $1 billion in US:
http://www.reuters.com/article/us-gm-jobs-trump-idUSKBN15107B
BMW won't budge on Mexican plant:
http://money.cnn.com/2017/01/16/news/companies/trump-bmw-mexico/
Wal-Mart to create 10,000 US jobs in 2017:
http://www.reuters.com/article/us-walmart-employment-idUSKBN1511JE
Tiffany says holiday sales were lower than expected:
http://www.reuters.com/article/us-tiffany-results-idUSKBN1511JT
Baidu appoints former Microsoft, Yahoo executive as group president and COO:
http://www.zdnet.com/article/baidu-appoints-former-microsoft-yahoo-executive-as-group-president-and-coo/
Morgan Stanley sees better trading environment in 2017:
https://www.bloomberg.com/news/articles/2017-01-17/morgan-stanley-profit-rises-on-surge-in-bond-trading-revenue
World's 8 richest people have same wealth as poorest half:
http://www.csmonitor.com/Business/2017/0117/Oxfam-World-s-eight-richest-people-have-same-wealth-as-poorest-half
Apple App Store prices rise in UK, India and Turkey:
http://www.bbc.com/news/technology-38650296
The original iPhone changed phones as we knew them, but iPhone 4S was also a game-changer:
http://www.theverge.com/2017/1/16/14286168/iphone-4s-launch-bigger-than-first-iphone-siri-icloud-camera
Apple may be planning to launch iPhone 6 battery exchange program:
http://www.macrumors.com/2017/01/17/iphone-6-battery-exchange-program-rumor/
Google Play and iOS apps demand surges in India and China:
http://www.bbc.com/news/technology-38643130
Google Pixel reportedly selling well on Verizon:
http://www.techtimes.com/articles/193037/20170117/google-pixel-google-pixel-xl-google-pixel-on-verizon.htm
Facebook's Mark Zuckerberg due in court over VR "heist":
http://www.bbc.com/news/technology-38646410
Windows 7 in 2017 is so outdated that patches can't keep it secure:
http://www.zdnet.com/article/microsoft-windows-7-in-2017-is-so-outdated-that-patches-cant-keep-it-secure/
Twitter officially shuts down Vine:
http://money.cnn.com/2017/01/17/technology/vine-shuts-down/
Apollo astronaut Eugene Cernan, last man to walk on the moon, dies at 82:
http://www.space.com/35343-eugene-cernan-last-man-on-moon-dies-at-82.html
Huge wave spotted in Venus' atmosphere:
http://www.csmonitor.com/Science/Spacebound/2017/0116/What-could-that-huge-wave-in-Venus-atmosphere-reveal-about-the-mysterious-planet
An ice shelf is cracking in Antarctica, but not for the reason you think:
http://www.npr.org/sections/thetwo-way/2017/01/16/509565462/an-ice-shelf-is-cracking-in-antarctica-but-not-for-the-reason-you-think
Zebra shark surprises scientists by giving birth without male:
http://www.cnn.com/2017/01/17/health/zebra-shark-reproduction/
Watch a beautiful Ruby Seadragon glide past cameras for the 1st time:
https://www.youtube.com/watch?time_continue=1&v=FUbzdJwK2Ss
Cold and darkness after asteroid impact killed the dinosaurs:
http://www.techtimes.com/articles/192901/20170116/cold-and-darkness-after-asteroid-impact-killed-the-dinosaurs.htm
US abortion rate falls to lowest level since Roe vs Wade:
http://www.npr.org/sections/thetwo-way/2017/01/17/509734620/u-s-abortion-rate-falls-to-lowest-level-since-roe-v-wade
Eating disorders can strike in mid-life:
http://www.bbc.com/news/health-38635082
Can acupuncture help babies?
http://time.com/4636204/acupuncture-baby-crying-colic/
Today's Economic Calendar:
8:30 Empire State Mfg Survey
8:45 Fed's Dudley Speech
10:00 Fed's Reserve Gov. Lael Bralnard speech
6:00 PM Fed's Williams Speech
Notable earnings this afternoon after the bell: SHLO, ADTN, *CSX*, PNFP, HBHC, *IBKR*, UAL, RNST
And tomorrow before the open: *FAST*, *C*, *AMTD*, *GS*, NTRS, ASML, *USB*, DHIL