Apple Today 2/01/2017 FOMC (AAPL)
seymour_greenz • February 1st 2017 11:29:14 AM
Good Morning,
S&P Futures are up 6 with +6 Fair Value, NASDAQ Futures are up 32 with +32 Fair Value and Dow Futures are up 65 as we start this new month of February on a high note. Apple Inc. (AAPL) reported record sales of $78.4 billion due in part to "especially strong demand for iPhone 7 Plus" and is up nearly 5% in pre-market. The Fed will announce a new interest rate decision at 2pm and Facebook (FB) earnings are expected this afternoon.
This morning's Economic Calendar includes: Auto Sales, MBA Mortgage Applications, ADP Jobs Report, Gallup U.S. Job Creation Index, Treasury Refunding Quarterly Announcement, PMI Manufacturing Index, ISM Manufacturing Index, Construction Spending and EIA Petroleum Inventories. The FOMC Announcement is at 2pm.
The earnings winners are Apple Inc. (AAPL), up nearly 5%, Advanced Micro Devices, Inc., up nearly 4% and United States Steel Corporation (X), up over 3.5%. On the other hand, Pitney Bowes Inc. (PBI) is down over 6%.
Futures were up in early morning and continued higher through the morning and are near the highs as we approach the open.
Asian markets ended mixed. China was closed for Chinese New Year, Hong Kong went down 0.18%, and Japan gained 0.56%. European markets are up strong. The UK is up 0.61%, Germany is up 1.28% and France is leading the advance, up 1.42%.
Commodities are mixed this morning. Oil is up 0.91%, natural gas is up 2.05% and gold is down 0.23%. Unleaded gas is up 1.82% and heating oil is up 1.05%. Metals are down except platinum. Meats are mixed. Cocoa and cotton are up while coffee, corn, wheat and soybeans are down.
Market higher as Apple powers tech rally, Fed in focus. US private sector adds 246,000 jobs in January, topping estimates. Fiat Chrysler, GM lead sales declines as US auto market cools. US construction activity slips in December.
Apple Inc. (AAPL) reported Q1 results yesterday afternoon with record profits that beat expectations and is up nearly 5% in pre-market. Advanced Micro Devices, Inc. (AMD) announced a Q4 adjusted loss of 1 cent per share that topped expectations and is up nearly 4%. United States Steel Corporation (X) reported a Q4 loss that beat expectations and is up over 3.5%. Overstock.com, Inc. (OSTK) announced Q4 net income of 12 cents per share, initially up but has yet to react this morning. Electronic Arts Inc. (EA) reported Q3 results with higher revenue and lower loss of 1 cent per share, initially down but has yet to react this morning.
Dominion Resources, Inc. (D) reported Q4 results with adjusted earnings of 99 cents per share this morning and is down over 2.5% in pre-market. Tupperware Brands Corporation (TUP) is up over 2.5% after reporting adjusted Q4 earnings of $1.45 per share that topped expectations. Avery Dennison Corporation (AVY) announced Q4 results with adjusted earnings of 99 cents per share and is up over 2%. Baxter International Inc (BAX) reported adjusted Q4 earnings of 57 cents per share that bear expectations and is up nearly 2.5%. Pitney Bowes Inc. (PBI) announced Q4 results with an adjusted loss of 53 cents per share and is down over 6%.
This afternoon after the bell, look out for earnings from Symantec Corporation (SYMC), Tractor Supply Company (TSCO), AGNC Investment Corp. (AGNC), NXP Semiconductors (NXPI), Cirrus Logic, Inc. (CRUS), Edwards Lifesciences Corp (EW), Ameriprise Financial, Inc. (AMP), Cavium Networks, Inc. (CAVM), Facebook (FB), Shutterfly, Inc. (SFLY), Tetra Tech, Inc. (TTEK), Legg Mason Inc. (LM) and MetLife, Inc. (MET).
Tomorrow morning before the open, CME Group Inc. (CME), The Estee Lauder Companies Inc. (EL), Philip Morris International Inc. (PM), Boston Scientific Corporation (BSX), International Paper Co. (IP), ConocoPhillips (COP), Old Dominion Freight Line, Inc. (ODFL), Sirius XM Holdings Inc. (SIRI), Deutsche Bank AG (DB), AstraZeneca Group plc (AZN), Infineon Technologies AG (IFNNF), New York Times Co. (NYT), Merck & Co Inc. (MRK), Polo Ralph Lauren Corporation (RL), Cigna Corp. (CI) and Ferrari N.V. (RACE) are expected to report.
A leading bullish NXPI trade strategy is: When the 15 SMA is Below the 48 DEMA AND the 13 day Smoothed Stochastics is Bearish, daily bars.
The AAPL jet engine hit turbo in after-hours yesterday, ending down 0.23% intra-day but up over $3 in after-hours. AAPL opened at 121.15 to high volume and quickly popped up to an intra-day high of 121.39 at 9:39am on strong volume before slipping below 121 by 10am and then dipped over 20 cents lower shortly before 11am on moderate volume. AAPL bounced back by lunchtime and held 121 on mild volume until 1pm when AAPL dipped harshly to an intra-day low of 120.62 at 2:02pm on moderate volume. AAPL bounced on moderate volume after 2pm and regained the low-121 area after 3pm and held up into the close on strong volume ahead of the Q1 earnings report. AAPL ended the day down 28 cents at 121.35 and gained $3.39 in after-hours to 125.02 after reporting Q1 results with $78.4 billion in record sales.
This morning in pre-market, AAPL opened up at 124.5 after earnings and kept flying up, up, up into the open, reaching a pre-market high of 127.67 at 8:55am as record sales and earnings were digested by investors, traders and analysts alike. AAPL is currently up $6.15 cents at 127.50 as we approach the open.
Classic max-pain is 120. The FOMC Announcement is at 2pm.
Market higher as Apple powers tech rally, Fed in focus:
http://www.reuters.com/article/us-usa-stocks-idUSKBN15G4EC
US private sector adds 246,000 jobs in January, topping estimates:
http://www.reuters.com/article/us-usa-economy-adp-idUSKBN15G4J5
Fiat Chrysler, GM lead sales declines as US auto market cools:
https://www.bloomberg.com/news/articles/2017-02-01/nissan-sales-beat-estimates-in-january-on-rogue-infiniti-gains
US construction activity slips in December:
http://www.usnews.com/news/business/articles/2017-02-01/us-construction-activity-slips-02-percent-in-december
Tim Cook just bought himself more time to prove Apple doubters wrong:
http://time.com/4656361/apple-earnings-tim-cook-steve-jobs-iphone/
Microsoft gives Windows device makers their 2017 marching orders:
http://www.zdnet.com/article/microsoft-gives-windows-device-makers-their-2017-marching-orders/
Nintendo defends Switch's thin launch line-up:
https://www.cnet.com/news/nintendo-defends-switchs-thin-launch-line-up-switch-zelda-breath-wind-super-mario-8-deluxe-splatoon/
GoPro's Karma drone is back on sale, 3 months after recall:
http://www.theverge.com/2017/2/1/14458974/gopro-karma-sale-relaunch-recall-crash
Tesla drops "Motors" from name as CEO Musk looks beyond cars:
http://www.reuters.com/article/us-tesla-namechange-idUSKBN15G4SL
But does this robotic bellhop take tips in Bitcoin?
https://techcrunch.com/2017/01/31/why-piaggio-built-gita-a-cargo-carrying-robot-to-follow-in-your-footsteps/
Ahooga! Ahooga! Bacon reserves at 50-year low!
http://www.usatoday.com/story/money/business/2017/02/01/nations-bacon-reserves-hit-50-year-low-prices-rise/97327794/
How a 1-year space mission affected astronaut twin Scott Kelly:
http://www.space.com/35527-nasa-astronaut-twins-study-early-results.html
See Venus, Mars and the crescent moon form a cosmic triangle tonight:
http://www.space.com/35511-venus-moon-mars-triangle-january-31-night-sky.html
Jurassic Park?
http://www.sciencemag.org/news/2017/01/scientists-retrieve-80-million-year-old-dinosaur-protein-milestone-paper
To catch prey, frogs turn to sticky spit:
http://www.npr.org/sections/thetwo-way/2017/01/31/512622260/to-catch-prey-frogs-turn-to-sticky-spit
Decoding the thoughts of patients who can't even blink:
http://www.cnn.com/2017/01/31/health/locked-in-als-brain-computer-study/index.html
Why modern tomatoes taste like nothing:
https://qz.com/899223/why-are-modern-tomatoes-flavorless-scientists-have-figured-out-the-genetic-changes-that-robbed-tomatoes-of-their-taste-and-aroma/
Air pollution study reveals fine particle pollutants may cause dementia:
http://www.techtimes.com/articles/195409/20170131/air-pollution-study-reveals-fine-particle-pollutants-may-cause-dementia.htm
Troubling chemicals found in wide range of fast-food wrappers:
http://www.theverge.com/2017/2/1/14464370/fast-food-chemical-wrapper-pfas-pfoa
Today's Economic Calendar:
Auto Sales
7:00 MBA Mortgage Applications
8:15 ADP Jobs Report
8:30 Gallup U.S. Job Creation Index
8:30 Treasury Refunding Quarterly Announcement
9:45 PMI Manufacturing Index
10:00 ISM Manufacturing Index
10:00 Construction Spending
10:30 EIA Petroleum Inventories
2:00 PM FOMC Announcement
Notable earnings this afternoon after the bell: EGOV, POWI, QRVO, *SYMC*, UTI, OI, FNF, EGP, EXPO, LSTR, MLNX, *TSCO*, *AGNC*, CDNS, *NXPI*, AXS, *CRUS*, *EW*, JBSS, TMK, *AMP*, AVB, BKFS, CACI, *CAVM*, CBL, CGI, CNMD, EXTR, *FB*, HOLX, KEX, PRXL, *SFLY*, *TTEK*, UNM, BRKS, EPAY, PCCC, SBCF, *LM*, ACLS, AFG, APU, CBT, IVAC, UGI, WSTC, BKH, HI, KBAL, LCI, ALL, CSGS, DOX, IAC, KE, LNC, MAA, *MET*, MTW, ESIO, EXAR, HLI, RXN, SGU, MUSA
And tomorrow before the open: *CME*, *EL*, MINI, NKRKF, BDC, ENTG, GPI, ARTW, *PM*, DASTY, LAZ, SNA, TGSNF, UTL, MKSI, CRS, GLPI, PH, R, ST, AOS, *BSX*, DSPG, *IP*, BLL, CMS, *COP*, EQM, EQT, FOJCF, MHO, *ODFL*, PENN, RGLD, *SIRI*, *DB*, INGR, MITK, MMC, MSCI, PJC, NVO, ALV, *AZN*, ETN, SRDX, CFX, HRS, *IFNNF*, KEM, KMT, *NYT*, XYL, BEP, DLPH, KLIC, MDU, MMP, RDS.A, TGI, VIRT, TRR, ATTU, BDX, CDK, IT, *MRK*, RFP, SBH, SNOW, SPH, TDY, VLP, WFT, XEL, ING, KELYA, PBH, *RL*, ESALF, MIXT, HMY, EQGP, *CI*, IDXX, *RACE*, MSGN, ASAZY, CAIXY, DNSKF, OCPNF, OMAM, SKFRY