Apple Today 3/15/2017 FOMC (AAPL)
seymour_greenz • March 15th 2017 12:11:24 PM
Good Morning,
S&P Futures are up 5 with +5 Fair Value, NASDAQ Futures are up 9 with +8 Fair Value and Dow Futures are up 31 on this historic Wednesday when the Fed is expected to announce a rate raise at 2pm. Netherlanders are heading to the polls today to vote after contentious campaigns that focused on immigration and the EU relationship. Oil appears to be in a bounce as the commodity is up 2% in pre-market.
This morning's colossal Economic Calendar includes: MBA Mortgage Applications, Consumer Price Index, Retail Sales, Empire State Mfg Survey, Business Inventories, NAHB Housing Market Index and EIA Petroleum Inventories followed by FOMC Announcement, FOMC Forecast, Chairman Press Conference and Treasury International Capital this afternoon.
There are no clear earnings winners but Rosetta Stone Inc. (RST) looks to be set to open higher after reporting Q4 results.
Futures were up in early morning and peaked just before 5am before slipping back and are off the highs as we approach the open.
Asian markets ended mostly down. China went up 0.08%, Hong Kong went down 0.15% and Japan dropped 0.16%. European markets are mostly up. The UK is up 0.19%, Germany is down 0.01% and France is up 0.08%.
Commodities are mostly up this morning. Oil is up 1.89%, natural gas is up 1.43% and gold is down 0.29%. Unleaded gas is up 1.45% and heating oil is up 1.43%. Metals are down except copper. Meats are mostly down. Cocoa, coffee, cotton, corn, wheat and soybeans are up.
Fed rate hike 101. US consumer prices show biggest annual increase since 2012. Oil climbs off lows, IEA sees first-half deficit after OPEC cuts.
Rosetta Stone Inc. (RST) reported Q4 results yesterday afternoon with an adjusted loss of 20 cents per share that and has yet to react in pre-market but looks set to open higher.
This afternoon after the bell, look out for earnings from Evoke Pharma, Inc. (EVOK), Avid Technology, Inc. (AVID), magicJack VocalTec Communications Ltd. (CALL), Oracle Corporation (ORCL), Guess? Inc. (GES), Jabil Circuit Inc. (JBL) and Williams-Sonoma Inc. (WSM).
Tomorrow before the open, Dollar General Corporation (DG) is expected to report.
A leading Bullish WFM swing trade strategy is: When the 10 EMA is Above the 11 SMA AND the 5 Day Smoothed Stochastics is Bearish, daily bars.
AAPL was a wild card yesterday, ending down 0.15% on very low volume. AAPL opened up at 139.30 to high volume and immediately popped to an intra-day high of 139.65 at 9:32am on high volume before falling abruptly to an intra-day low of 10:46am on mild volume. AAPL bounced back above 139 and headed into lunchtime in the low 139 area before slipping back below 139 on low volume and hanging around the139-line for the remainder of the day. AAPL ended the day down 21 cents at 138.99 and gained 6 cents in after-hours to 138.95.
This morning in pre-market, AAPL opened higher in conjunction with Futures and reports that RBC Capital reiterated AAPL coverage with Outperform and a $155 price target. AAPL traded in a narrow range with a low of 139.13 at 6am and showed some improvement into the open. AAPL is currently up 36 cents at 139.35 as we approach the open.
Classic max-pain is 133.
Fed rate hike 101:
https://www.nytimes.com/aponline/2017/03/15/us/politics/ap-us-fed-rate-hike-impact-qa.html
US consumer prices show biggest annual increase since 2012:
https://www.bloomberg.com/news/articles/2017-03-15/u-s-consumer-prices-rise-0-1-in-february-core-costs-up-0-2
Oil climbs off lows, IEA sees first-half deficit after OPEC cuts:
http://www.reuters.com/article/us-global-oil-idUSKBN16L2UE
Snap shares hit new low in choppy trading as valuation concerns mount:
http://www.reuters.com/article/us-snap-stocks-idUSKBN16M22T
Apple hires iPhone security expert Jonathan Zdziarski:
https://www.macrumors.com/2017/03/14/apple-hires-jonathan-zdziarski/
Twitter accounts hijacked:
http://www.reuters.com/article/us-cyber-turkey-idUSKBN16M11J
Volkswagen reportedly open to Fiat Chrysler merger talks
http://www.usatoday.com/story/money/cars/2017/03/14/fiat-chrysler-automobiles-volkswagen-group/99159414/
Windows Vista has 30 days to live:
http://www.pcworld.com/article/3180571/windows/windows-vista-has-just-30-days-to-live.html
NASA has released new images of Trappist-1's Earth-sized planets:
https://futurism.com/nasa-has-released-new-images-of-trappist-1s-earth-sized-planets/
Mars needs MacGyvers:
http://www.space.com/36066-mars-colony-needs-astronaut-macgyvers.html
Spiders top the global predator charts:
http://www.bbc.com/news/science-environment-39273661
Researchers find fluorescent tree frog in Amazon basin, only known fluorescent amphibian on Earth:
http://www.techtimes.com/articles/201681/20170315/researchers-find-fluorescent-tree-frog-in-amazon-basin-only-known-fluorescent-amphibian-on-earth.htm
Billion-year-old fossils might shed light on origins of algae:
http://www.csmonitor.com/Science/2017/0314/Billion-year-old-fossils-might-shed-light-on-origins-of-algae
Internet filters may fail to shield kids from disturbing content:
http://www.reuters.com/article/health-internet-teens-idUSKBN16M1Z3
Researchers have replicated a notorious social experiment that claimed to explain the rise of fascism:
https://qz.com/932110/researchers-have-replicated-a-notorious-social-experiment-that-claimed-to-explain-the-rise-of-fascism/
Are teenagers replacing drugs with smartphones?
https://www.nytimes.com/2017/03/15/learning/do-you-think-teenagers-are-replacing-drugs-with-smartphones.html
Being a parent may help you live longer:
http://www.livescience.com/58263-parenthood-longevity.html
Today's Economic Calendar:
7:00 MBA Mortgage Applications
8:30 Consumer Price Index
8:30 Retail Sales
8:30 Empire State Mfg Survey
10:00 Business Inventories
10:00 NAHB Housing Market Index
10:30 EIA Petroleum Inventories
2:00 PM FOMC Announcement
2:00 PM FOMC Forecast
2:00 PM Chairman Press Conference
4:00 PM Treasury International Capital
Notable earnings this afternoon after the bell: HRTG, MCF, PRMW, CNAT, FRSH, MLR, SAEX, PFNX, CLRB, *EVOK*, TROV, ARTX, ERN, *AVID*, *CALL*, CPRX, MGMXF, *ORCL*, REI, *GES*, *JBL*, SYNC, *WSM*, CAPR, KLDX, SHSP, ALRM, DYAI, SKLN, CVRS, SLCJY, SMSOF, YRD
And tomorrow before the open: INSY, TWMC, USPH, WLB, *DG*, HSGX, HWCC, KPTI, PFSW, CXDC, JASO, BTG, GSOL, HDELY, MDLY, LITB, OXBDF, DLAKF, JSNSF, LNXSF, XBIT, TRZBF, AKG, CLSN, GRYIY, KGDEY, PLX, PRBZF, PTHN, SAFLF