Apple

Earnings Beat "Fist Pumps" Very Muted This Quarter

"...shares of companies that have reported both better-than-expected profits and sales for the second quarter have barely budged this earnings season. It’s the least fist-bumping investors have done for great quarters in 17 years."

Tech Stumble Drags Global Markets Lower; All Eyes On The BOE

E-mini futures are fractionally lower this morning (0.08%) after Apple's surge helped the DJIA climb above 22,000 for the first time on Wednesday; Global shares declined for the first time in 4 days pressured by tech stocks: Asian shares fell, while Europe pared opening losses to trade unchanged.

"It Won't Be Long Now" - David Stockman Warns "Amazon Is The New Tech Crash"

"The Amazon business model is fatally flawed. It’s only a matter of the precise catalyst that will trigger the realization in the casino that this is another case of the proverbial naked emperor... I do not think AMZN is a freakish outlier. It’s actually the lens through which the entire stock market should be viewed because the whole enchilada is now in the grips of a pure mania."

Trump 'Nailed It' - Apple Sends Dow Above 22k For First Time Ever

Having 'predictweeted' Dow 22k yesterday, Apple's 6% surge (after missing iphone sales estimates) has confirmed President Trump's forecast and crossed the Dow Maginot Line for the first time... as Trannies diverge drastically (testing the 200DMA).

Frontrunning: August 1

  • Futures higher on strong earnings season; Apple in focus (Reuters)
  • Kelly Sends Off Scaramucci, But Real Test Will Be Taming Trump (BBG)
  • Senate Democrats offer Republicans help on tax reform - with conditions (Reuters)
  • Banks May Need $50 Billion New Capital After Brexit (BBG)
  • Goldman Sachs Finds Itself in Odd Spot: Last Place in Trading (WSJ)

Dow Set To Open Above 22,000 As Global Stocks Levitate Higher

Welcome to August: you may be surprised to learn that S&P 500 futures are once again levitating, higher by 0.3%, and tracking European and Asian markets, with DJIA futures higher by over 100 points this morning, the Dow Jones is set to open above 22,000, a new all time high as Asian stocks hit a new decade high.

Frontrunning: July 31

  • HSBC, miners lift European shares as dollar holds near lows (Reuters)
  • Republicans Face Tough Choice: Repeal Obamacare or Cut Taxes (BBG)
  • Trump’s Decisions Deepen Divide Among Republicans (WSJ)
  • Koch Brothers Move to Back White House’s Tax-Cut Plan (BBG)
  • Maduro Waits for U.S. Response After Violent Venezuela Vote (BBG)

Global Stocks Rise On "Growth Optimism", Ignore Political Turmoil; Dollar, Oil Creep Higher

S&P futures rose 0.1% on the last trading day of the month, trailing European and Asian markets boosted by China's July Mfg. PMI, which despite declining from from 51.7 to 51.4, and missing expecations  of 51.5, saw the construction index rise to its highest level since December 13, sending Chinese iron ore futures surging and the European commodity sector broadly higher.