Tim Cook Rescues US Stocks As Trump Crushes China, Turkey

Forget the "three comma club"...

Tim Cook's Apple just  joined the four-comma-club...


AAPL rescued the entire market - "Thank you Tim Cook!!"


Apple has never been this big relative to the S&P 500...


While we are on the subject of AAPL - the spread between AAPL Bond yields and dividend yields has never been wider...


And AAPL's panic-buyback-bid prompted an epic liftathon in the Nasdaq (blue) at the cash open (and everything else)... Dow futs (red) manage to hold onto unchanged...Can you spot the moment the cash market opened for buyback business?


In cash markets even The Dow managed to benefit from AAPL's surge, ramping from -240 points at the open to unch... Nasdaq Composite led the charge though...


FANG stocks managed gains today...

But remain major laggards relative to "safe haven" AAPL...


And despite its biggest quarterly loss ever, Tesla bonds and stocks soared today... (we've seen this pattern before)


While all eyes were on Apple's gains, the big moves were in FX markets...

As the Turkish Lira tumbled to a new record low as threats and sanctions were exchanged...


And Trump's tariff threats prompted another plunge in the offshore Yuan...


....And China stocks tumbled.

And European stock were ugly too...


The Dollar Index rallied, extending gains off the Fed dip...


Cryptos continued their freefall...


Treasury yields drifted lower today after two ugly days...

The yield curve steepened very modestly on the day. 10Y yields closed below 3.00%...

Global bond prices popped today - JGBs (blue), Bunds (red), USTs (gold)...


While Copper and PMs continued to drift lower (as the dollar gained), WTI popped after a Genscape report suggested Cushing inventories tumbling....


Finally, while Tim Cook won, Jeff Bezos is close behind...


spastic_colon Thu, 08/02/2018 - 16:02 Permalink

it is absolutely obvious that the CB's now own the markets; TSLA are you fucking kidding me!! The SEC and the DOJ are also obviously powerless and/or complicit.

Jtrillian Solosides Thu, 08/02/2018 - 16:33 Permalink

Everything is awesome... until it isn't.


Those buybacks appear to be working for Apple.  I hope all that debt was worth it.

I am certain that at some point AFTER the next financial collapse that all these buybacks will be blamed (rightfully so) for helping to create the largest bubble in history and will be banned - at least until people forget all about what happened and then we can wash/rinse/repeat. 

In reply to by Solosides

D.r. Funk spastic_colon Thu, 08/02/2018 - 16:30 Permalink

#1 that was glaringly-apparent by the end of 2014 ...say... mid 2015

#2 however it's more shadow wall st like you did suggest, ...although not sec and doj... Citadel, portion of cia, 'underground' ny fed. They (in the aggregate) clearly setup stuff post-lehman. Control on vix. 10-15 dow components. Nasdaq so called leaders and flyers. CBs primarily boj ecb kuroda draghi and fed definitely in the game but the setup has to be an agreed clandestine post lehman development

In reply to by spastic_colon

D.r. Funk AynRandObjectivist Thu, 08/02/2018 - 16:23 Permalink

It's a lead-follow structure.

There are subroutines running.

Most of the algos are not controlled.

They respond to moving avgs, momentum, headlines.

The subroutines are set to pivot off of falling territory limits, or enhance them.

The rest of the primary dealer or primary player algo buy programs just keep going off of the scripted-like conditions

In reply to by AynRandObjectivist

pickatheweek Thu, 08/02/2018 - 16:04 Permalink











........('(...´...´.... ¯~/'...')




..........''...\.......... _.·´





j0nx Thu, 08/02/2018 - 16:04 Permalink

This company makes phones and tablets. And not particularly great ones either. How in the hell are they worth this much? Their computers are shit used only by libtard SJW soyboys and their software is piss poor as well. I don't get it.

MK ULTRA Alpha CoCosAB Thu, 08/02/2018 - 16:24 Permalink

Apple brought back some it's global profits held offshore to buy up it's stock.

Around $3 trillion is held offshore by corporate America, it was announced about eight or so months ago, Apple would bring home a load of capital.

I believe it was announced right after the Tax Reform act passed congress.

This has inflated the price of Apples stock.

In reply to by CoCosAB

Snaffew j0nx Thu, 08/02/2018 - 16:38 Permalink

No company worth a trillion dollars should have a p/e over 4...economies of scale dictate the impossibility of ever reaching parity on any future earnings or growth...especially in a commodity market such as cell phones.  Ridiculous...at least amzn, tsla, nflx, goog et al are trading at rational multiples.  oi vey?

In reply to by j0nx

D.r. Funk Thu, 08/02/2018 - 16:06 Permalink

Oh that constant uniform increase, over swaths of naz intraday

That's not synthetic machinery
That's not a For-Next subroutine
Just coincidentally at least twice
per week for 3 years,

Coincidentally looks like a pathologically
controlled progressively fueled bubble burst scenario

TeethVillage88s Thu, 08/02/2018 - 16:07 Permalink

On Topic a Historian who may not understand money, currency or economics... but does look at Military, Military Tech, Trends in Military, Trends in the cost of Military and Government.


On Contact: Decline of the American empire with Alfred McCoy

- Hehe... hit a nerve of Rush Limbaugh listeners who have no research or insight about 'capitalism' and 'systemic corruption', two words republicans can never utter on public radio or tv  - down vote gives me credence Boze Alan

- 'Sweeping Reforms' are two more words that GOP or Congressmen can never utter on public radio or TV

Fiat Burner Thu, 08/02/2018 - 16:09 Permalink

Never ending fantasy and fraud. When will reality and justice return? 

Hang these fucking thieving central bankers along with their lapdog politicians and "law" enforcers. 

Snaffew Fiat Burner Thu, 08/02/2018 - 16:41 Permalink

when the financial system collapses...I will die before I let the government convince me to give any money towards another bailout.  If the system implodes---It's a good thing...not a bad one.  It's the only way to actually fix the problem...even if it is temporary.  Financial engineering is not a fix...it's just a cover up and things are far worse now than they ever were in 2008.  Like 10 times worse.  Drugs, alcohol, bullets, guns, water purifiers, food, and women will be the stock trades of the near future.

In reply to by Fiat Burner

chippers Thu, 08/02/2018 - 16:09 Permalink

Honestly its a disgrace to have a company that sells over hyped junk to stupid fanboys all guided by a flamboyant fag as a rescuer of the stock market.  Are there any companies that actually produce things of value run by normal people listed?

vegas Thu, 08/02/2018 - 16:11 Permalink

As complete a CB manipulation as you will ever see on display today ... right from the opening bell. What a fucking joke, pretending US equities are anything but a manipulative Ponzi scheme ... "Dr. Goebbels, call your office or pick up the white courtesy phone".



Yen Cross Thu, 08/02/2018 - 16:12 Permalink

  As these stupid assholes keep reducing the float in their stock with buybacks, it's just going to magnify the decline when they tank out.

  The shit is going to dumped into a vacuum with no buying volume to stop the free fall into hell.

Rise Of The Machines Thu, 08/02/2018 - 16:18 Permalink

When they plaster $1 trillion all over the place. You know that the top is going in. That kind of shit only happens at inflection points. Also there's been a big change in the rules regarding retail client leverage in Europe, which means retail clients can no longer leverage as much as they used to and downside protection becomes more expensive in terms of margin. The stars are aligning here. NDX 6000 before year end!

Wait What Rise Of The Machines Thu, 08/02/2018 - 16:48 Permalink

Who remembers Cisco, Brocade and Juniper Networks in 2000!?

I lived in the Bay Area then and remember it like it was yesterday. Daily ATHs, P/E ratios to the moon, no justification daily ramps. And that was before the proliferation of real-time data on every site. Now, everyone can see what is going on 24/7.

Today, CBs are going to force everyone where they want them to be to keep the ponzi going... because there is no alternative. The moment they take the training wheels off the market, it will all go to shit... immediately. So they will maneuver, cajole, mark-to-fantasy until the contradictions can't be sustained. Japan did it for 20 years; the US doesn't have that long because everyone knows that playbook and will bail on US trade before the final dollar devaluation. A few token rate hikes can't change that outcome. Devaluation will happen again before the Fed's balance sheet falls below 4 trillion. Count on it.

edit: is that you downvoting everyone, Simon Potter?

In reply to by Rise Of The Machines