Apple Soars in After Hour Trading!

The Dow Jones climbed to a new historic high on Thursday, declines in the stock of Facebook (FB), though, weighing on the NASDAQ and the S&P 500, causing them to close at just around the zero line. Investors, at present, are digesting the tax reform initiative revealed by President Donald Trump and the Republican Party.

The bill proposal calls for cutting the corporate tax rate from 35% to 20%. Even though some analysts pointed to a corporate tax cut as an event that could spur further gains in a market already traded at an all-time high, investors’ assessment is that the bill is just an opening bid of sorts, before the nitty gritty of drawn out negotiations. The message we’re getting from the market is that there’s still uncertainty about the bill and that therefore, it’s best not to jump the gun because there’s no way to know how the bill will pan out in the end.

Daily Summary: The Dow Jones rose 0.35%, the S&P 500 tacking on 0.02%. The NASDAQ shed 0.02%.

After closing, Apple (AAPL) soared over 3% to a new all-time high, the iPhone maker releasing a stronger Q4 forecast than investors had expected; the current quarter includes the holiday shopping season.

Trump officially appointed Jerome Powell to become the next Fed Chair. He will occupy the position starting in February of next year. Powell supports the monetary policy of the presiding Chair, Janet Yellen.

Earnings reports for Q3 continue to remain in focus, investors pointing to firm earnings growth as the force supporting the 2017 stock market rally. With over 75% of S&P 500 companies having reported, Q3 earnings growth is expected to come to 7.7%, a rise from expectations of 5.9% at the beginning of October.

Facebook (FB) fell 2%, investors ignoring the company’s strong quarterly results and voicing concern about the clip of spending at the social media chain. The stock was the biggest weight on the S&P 500 and the NASDAQ.

Tesla (TSLA) tumbled 6.8% after the company slashed its production target for its Model 3 Sedan, reporting its largest ever quarterly loss.

Teva (TEVA) tumbled almost 20% after lowering its 2017 sales and earnings forecast, as well as its cash flow forecast. The company said that the first reason for lowering its forecast is the launch of a generic version of its Copaxone drug on the part of Mylan (MYL). Teva said that the drug’s launch came sooner than expected and will hurt its bottom line already in 2017. The second reason given by Teva was that the sale of new generic drugs in the U.S. are expected to come out to $400 million, beneath the previous forecast of $500 million. TEVA is down a whopping 69% year-to-date!

About 7.4 billion shares traded hands on U.S. exchanges, above the 6.2 billion average over the last 20 trading days.

Friday: Economists’ projection is 310 thousand new job creations for October, a substantial rebound after a spate of disastrous hurricanes, Irma and Harvey wreaking havoc and likewise dragging the job figure down to 33 thousand for September. September’s job numbers were the first big shock in economic data after the natural disasters that struck at the end of August and at the beginning of September. The rest of the economic figures were for most intents and purposes strong, including growth (GDP) numbers which are now on pace to come out at an annualized 3% pace for each of the last 2 quarters.

Economists expect the unemployment report to remain at 4.2% and hourly wages to drop 0.2%.

Wages is an area in particular in which economists hope to see growth as the first sign of inflation’s return. Low inflation is a source of worry for the Fed, which had been expecting to see it pick up. That notwithstanding, the central bank is expected to hike rates later this year come December.

Index Last Daily change
DJX 23,516 0.35% Up
SPX 2,580 0.02% Up
Nasdaq 6,715 (0.02%) Down

Employment figures will be released today before trading opens at 8:30 N.Y. time.

Friday’s Hot Stocks: AAPL, P, SBUX, CBS, AIG, CC

IPOs: AQ

Have a great trading day! 

 

Economic Calendar

 

DAY TIME (EST) Event Forecast Impact
Monday 8:30 Personal Income and Outlays 0.4 % Medium
Tuesday 9:00 S&P Corelogic Case-Shiller HPI 0.5 % Medium
Tuesday 9:45 Chicago PMI 62.0 Medium
Tuesday 10:00 Consumer Confidence 121.0 High
Wednesday 8:15 ADP Employment Report 220,000 Medium
Wednesday 9:45 PMI Manufacturing Index 54.5 Medium
Wednesday 10:00 ISM Mfg Index 59.5 High
Wednesday 10:00 Construction Spending 0.1 % Medium
Wednesday 10:30 Oil Inventories Low
Thursday 8:30 Jobless Claims 235 K Medium
Thursday 8:30 Productivity and Costs 2.4 % Medium
Friday 8:30 Nonfarm Payrolls 323,000  High
Friday 8:30 Unemployment Rate – Level 4.3% High
Friday 8:30 Average Hourly Earnings 0.2 % High

 

Earning Calendar

 

Symbol Company AM/PM Day
NBL Noble Energy, Inc. PM Monday
SBAC SBA Communications Corporation PM Monday
CMI Cummins Inc. AM Tuesday
INCY Incyte Corporation AM Tuesday
AMT American Tower Corporation AM Tuesday
AET Aetna Inc. AM Tuesday
K Kellogg Company AM Tuesday
SHOP Shopify Inc. AM Tuesday
MA Mastercard Incorporated AM Tuesday
PFE Pfizer Inc. AM Tuesday
APC Anadarko Petroleum Corporation PM Tuesday
EA Electronic Arts Inc. PM Tuesday
CHRW C.H. Robinson Worldwide, Inc. PM Tuesday
CHKP Check Point Software Technologies Ltd. PM Tuesday
FISV Fiserv, Inc. PM Tuesday
EL The Estee Lauder Companies Inc. AM Wednesday
CTSH Cognizant Technology Solutions Corporation AM Wednesday
KHC The Kraft Heinz Company PM Wednesday
OXY Occidental Petroleum Corporation PM Wednesday
WMB The Williams Companies, Inc. PM Wednesday
TSLA Tesla, Inc. PM Wednesday
CTRP Ctrip.com International, Ltd. PM Wednesday
FB Facebook, Inc. PM Wednesday
MET MetLife, Inc. PM Wednesday
SYMC Symantec Corporation PM Wednesday
QCOM QUALCOMM Incorporated PM Wednesday
ALL The Allstate Corporation PM Wednesday
LBTYA Liberty Global plc PM Wednesday
PRU Prudential Financial, Inc. PM Wednesday
CI Cigna Corporation AM Thursday
YUM Yum! Brands, Inc. AM Thursday
DLPH Delphi Automotive PLC AM Thursday
BABA Alibaba Group Holding Limited AM Thursday
TEVA Teva Pharmaceutical Industries Limited AM Thursday
ADP Automatic Data Processing, Inc. AM Thursday
APA Apache Corporation AM Thursday
CBS CBS Corporation PM Thursday
ATVI Activision Blizzard, Inc. PM Thursday
AIG American International Group, Inc. PM Thursday
AAPL Apple Inc. PM Thursday
SBUX Starbucks Corporation PM Thursday
CC The Chemours Company PM Thursday
ED Consolidated Edison, Inc. PM Thursday
MSI Motorola Solutions, Inc. PM Thursday
AEE Ameren Corporation AM Friday

Today’s Picks – Day Trading!

Symbol Breakout Breakdown Momentum Momentum
PLAY 45.71 LBTYA KEM
MDCO 28 JUNO FNSR
MNK 30.15 LNTH NFX
CYBR RLGY
  ITT FLS
    TOL
    ABC
    TWX

 

New York Strategy Swing

# Date Stock Long\

Short

Statues Data Close Profit\

Loss

1 1.9.2017 VNTV Long Close 14.9.2017 +1.35%
2 12.9.2017 CPB Short Close 15.9.2017 -1.10%
3 18.9.2017 INSM Long Close 22.9.2017 +1.92%
4 25.9.2017 GPS Long Close 2.10.2017 +1.69%
5 27.9.2017 SQM Long Close 29.9.2017 +1.69%
6 2.10.2017 ATI Long Close 6.10.2017 +3.12%
7 2.10.2017 TROX Long Close 18.10.2017 +13.93%
8 3.10.2017 ABT Long Close 11.10.2017 +1.60%
9 9.10.2017 ZGNX Long Close 12.10.2017 +3.26%
10 16.10.2017 INSM Long Close 19.10.2017 -2.82%
11 24.10.2017 CVS Short Close 1.11.2017 +4.77 %
12 30.10.2017 SKX Long Close -1.42%
13 31.10.2017 STX Long Open +0.27%
14            
15            
16  
17
18            

 Today’s Picks – Swing “New-York Strategy

Company Name Akamai Technologies
Entry Point 52.61
Stop Area 51.95
1st Target 53.20
Swing Target 56.85
Avg. Volume 1.86M
Sector Technology | Internet Information Providers
Earning Date
Risk Rate Medium
Risk\Reward Ratio 6.42:1