Apple Earnings: Investors are Holding Their Breathe

August is already here, after a great show in wall street for the month of July. In July, the S&P 500 rose 1.9%, the Dow added 2.5% and the Nasdaq gained 3.4%.  The dollar index (UUP) ended the month with a 2.9% loss, its worst since March 2016. Gold gained 2.5% in its best monthly performance since February.

The Dow Jones Industrial Average hit a record closing high on Monday, helped by Boeing (BA), while selling in Facebook (FB), Google (GOOGL) and other technology companies checked the S&P 500 and pulled the Nasdaq lower.

Technology sector (XLK) dipped 0.53% with Facebook (FB) falling 1.86% and Google (GOOGL) down 1.34%. The bull market is sort of broadening out and people are taking a few profits off the table on some of these stocks that have done exceedingly well.

Boeing (BA) rose 0.49% and hit a record high of $242.46 after JPMorgan raised its price target on the world’s biggest plane maker to $280 per share.

Investors have been counting on earnings to support high valuations for equities.

In summary: The Dow Jones finished the day up 0.28%, The S&P 500 lost 0.07% and the Nasdaq dipped 0.42%.

Tesla (TSLA) dropped 3.46% after Chief Executive Elon Musk warned that the electric carmaker would face “manufacturing hell” as it ramps up production of its new mass-market Model 3 sedan.

About 6.3 billion shares changed hands in U.S. exchanges, above the 6.0-billion average over the last 20 sessions.

Tuesday: August trading kicks off Tuesday on what could be one of the more important market days of the summer. The PCE inflation data report, which is closely watched by the Fed and a key to its decisions on interest rates, leads a series of major economic reports, including personal income and spending, and car sales.

Before the bell, there are dozens of earnings reports, from companies such as Pfizer (PFE) and Under Armour (UAA), but the market is really waiting for Apple (AAPL) earnings after the bell. Apple is expected to report adjusted earnings of $1.57 per share, a nearly 11 percent gain, on a six percent jump in revenue to $44.89 billion in the 2nd quarter.

It’s going to be the pivotal day of the week. Usually you say it will take a back seat to the jobs number. But today everything is on the ‘A’ list. Given the recent slump in tech, everything Apple says could be a big deal. We really want to hear what they say about guidance. We want the tell. The market is looking for details on the iPhone 8 and its release date.

Tuesday morning’s data could set the tone across financial markets, as investors position for the new month.

The inflation data is key since Fed Chair Janet Yellen, when she testified before Congress in July, pointed out that the central bank is concerned about the weak trend. The market responded by becoming even more skeptical that the Fed would raise interest rates again this year.

There are dozens of earning report today, among them: BP, CMI, CME, PSX, NFX, DVN and COG.

Hot Stocks: TXRH, SLCA, ALSN, BP, CME, PSX, UAA, SHOP, RCL

Index Last Daily change
DJX 21,891 0.28% UP
SPX 2,470 (0.07%) Down
Nasdaq 6,348 (0.42%) Down

IPOs: None

Have a great trading day!

 

 

Economic Calendar

 

DAY TIME (EST) Event Forecast Impact
Monday 9:45 Chicago PMI Medium
Monday 10:00 Pending Home Sales Medium
Tuesday 8:30 Personal Income\Spending Medium
Tuesday 10:00 Construction Spending Medium
Tuesday 10:00 ISM Index High
Tuesday 14:00 Auto Sales Low
Wednesday 8:15 ADP Employment Change High
Wednesday 10:30 Crude Inventories Low
Thursday 8:30 Initial Claims High
Thursday 10:00 ISM Services Medium
Thursday 10:00 Factory Orders Medium
Friday 8:30 Nonfarm Payrolls High
Friday 8:30 Unemployment Rate High
Friday 8:30 Trade Balance Medium


 

Today’s Picks – Day Trading!

Symbol Breakout Breakdown Momentum Momentum
C 68.91 NLSN HTZ
GPOR 12.47 VLO DISCA
CLVS 83.28 YRD DDS
DXCM 66.00   CNC
    CLVS
    RH
    COL
 
   
   

 

 

 

 

New York Strategy Swing

# Date Stock Long\

Short

Statues Data Close Profit\

Loss

1 14.6.2017 SIG Short Close 23.6.2017 +2.29%
2 16.6.2017 AABA (YHOO) Long Close 26.6.2017 +3.14%
3 21.6.2017 KR Short Close 27.6.2017 -2.75%
4 29.6.2017 DKS Short Close 3.7.2017 +1.04%
5 6.7.2017 HAIN Long Close 18.7.2017 +2.52%
6 6.7.2017 DKS Short Close 13.7.2017 +3.96%
7 10.7.2017 ORCL Long Close 13.7.2017 +1.38%
8 13.7.2017 YUMC Short Close 31.7.2017 +2.12%
9 18.7.2017 LB Short Close 20.7.2017 +1.34%
10 20.7.2017 FIVE Short Close 26.7.2017 +1.97%
11 21.7.2017 HOG Short Close 27.7.2017 +0.39%
12
13
14