Dow jumped up 140 closing near the highs, advancers over decliners better than 3-1 & NAZ gained 28 (but still below 5K). The MLP index went up 3+ to the 334s & the REIT index added 3+ to the 303s. Junk bond funds were weak & Treasuries rose. Oil & gold had strong advances.
AMJ (Alerian MLP Index tracking fund)
![Live 24 hours gold chart [Kitco Inc.]](http://www.kitco.com/images/live/gold.gif?0.3252528257419207)
Apple, a Dow stock, said its new iPhone models are on pace to surpass last year’s record first weekend of 10M units when they go on sale Sep 25, signaling continued demand for the company’s flagship device. Unlike last year, the company didn’t give figures for preorders in the first 24 hours. The new models, introduced last week, feature an improved camera, faster processor & a new feature called 3D Touch that provides shortcuts to common tasks when pressing firmly on the screen. "Customer response to iPhone 6s and iPhone 6s Plus has been extremely positive and preorders this weekend were very strong around the world," a company spokeswoman said. Maintaining healthy demand for the iPhone is critical for AAPL, which got more than 60% of its revenue from the handsets in recent qtrs. Last Sep, the phone maker received a record number of first day preorders of the iPhone 6 & iPhone 6 Plus, with more than 4M in the first 24 hours. The new iPhones will hit stores in Australia, Canada, China, France, Germany, Hong Kong, Japan, New Zealand, Puerto Rico, Singapore, the UK & the US. The stock was up pennies. If you would like to learn more about AAPL, click on this link:
club.ino.com/trend/analysis/stock/AAPL?a_aid=CD3289&a_bid=6ae5b6f7
FedEx trimmed its earnings outlook for its fiscal year amid weak demand in its freight segment & higher costs in its ground segment. The downbeat guidance followed weaker-than-expected profit for its Aug qtr. FDX expects EPS of $10.40-$10.90 for the year, down from its previous guidance of $10.60-$11.10. It is seeing improvements from its cost-cutting plans, but is experiencing weaker less-than-truckload demand & higher-than-expected self-insurance reserves, on top of higher operating costs at FedEx Ground. The company has been pouring money into its ground segment as it tries to keep up with the boom in online shopping. Founded as an air express company, FDX is relatively new to ground delivery & only added home delivery service in 2000. It has been rapidly expanding its ground network to accommodate the big increase in e-commerce packages. Yesterday, FDX announced it would raise shipping rates at its FedEx Express, FedEx Ground & FedEx Freight shipments starting Jan 4 & will increase the surcharges for shipments that exceed the published maximum dimensions in the FedEx Ground network starting Nov 2. Overall, for the fiscal Q1 ended Aug 31, EPS was $2.42, up from $2.26 a year-earlier. Revenue rose to $12.3B from $11.7B a year ago. Analysts expected EPS of $2.46 on revenue of $12.3B. At its ground segment, revenue jumped 29% to $3.83B, helped by its acquisition of logistics provider GENCO Distribution System & higher ground revenue per package & volume. At the company's biggest segment, express, revenue fell 4% to $6.59B. A 1% increase in US domestic package volume was offset by lower fuel surcharges & currency impacts. The freight segment's revenue was essentially flat at $1.61B, as shipments for the less-than-truckload operation edged down 1%. The stock slumped 4.37. If you would like to learn more about FDX, click on this link:
club.ino.com/trend/analysis/stock/FDX?a_aid=CD3289&a_bid=6ae5b6f7
Oil rose after an unexpected draw-down in US stockpiles & on the back of rising global markets. The stock & commodity markets were feeling good today, hoping for the best tomorrow. Whether the Fed decides to raise interest rates or not, this rally may not last. It could be another case of buy on the rumor & sell on the news. The Dow is finally in the black for Sep.
Dow Jones Industrials
AMJ (Alerian MLP Index tracking fund)
| CLV15.NYM | ....Crude Oil Oct 15 | ....47.31 |  ...2.72 | (6.1%) |
Confidence
among US homebuilders rose in Sep to the highest level in
almost a decade, signaling momentum in residential real estate will
support growth in H2. The National Association of Home Builders/Wells Fargo builder sentiment
gauge rose to 62, the highest level since Oct 2005, from 61 the
prior month.
Readings greater than 50 mean more respondents report good market
conditions. “Barring any unexpected jolts, we expect housing to keep moving forward at a steady, modest rate through the end of the year,” the NAHB said. The forecast called for the measure to hold at 61. The group’s gauge of prospective buyer
traffic climbed to 47, the best in a year, from 45 the prior month. The
index of current single-family home sales increased to 67, the strongest
since Nov 2005, from 66. The measure of the 6-month sales outlook cooled to 68, a 4-month low, from 70. Builder confidence advanced in 3 of 4 regions. Sentiment climbed to 66 in the
South, the highest since 2006, from 63. The measure also
increased in the Midwest & Northeast, while it was little changed in
the West.
Homebuilder Confidence in U.S. Strengthens to Highest Since 2005
Apple, a Dow stock, said its new iPhone models are on pace to surpass last year’s record first weekend of 10M units when they go on sale Sep 25, signaling continued demand for the company’s flagship device. Unlike last year, the company didn’t give figures for preorders in the first 24 hours. The new models, introduced last week, feature an improved camera, faster processor & a new feature called 3D Touch that provides shortcuts to common tasks when pressing firmly on the screen. "Customer response to iPhone 6s and iPhone 6s Plus has been extremely positive and preorders this weekend were very strong around the world," a company spokeswoman said. Maintaining healthy demand for the iPhone is critical for AAPL, which got more than 60% of its revenue from the handsets in recent qtrs. Last Sep, the phone maker received a record number of first day preorders of the iPhone 6 & iPhone 6 Plus, with more than 4M in the first 24 hours. The new iPhones will hit stores in Australia, Canada, China, France, Germany, Hong Kong, Japan, New Zealand, Puerto Rico, Singapore, the UK & the US. The stock was up pennies. If you would like to learn more about AAPL, click on this link:
Apple Says iPhone on Pace to Beat Last Year's First Weekend
The 6s debuts
Apple (AAPL)
FedEx trimmed its earnings outlook for its fiscal year amid weak demand in its freight segment & higher costs in its ground segment. The downbeat guidance followed weaker-than-expected profit for its Aug qtr. FDX expects EPS of $10.40-$10.90 for the year, down from its previous guidance of $10.60-$11.10. It is seeing improvements from its cost-cutting plans, but is experiencing weaker less-than-truckload demand & higher-than-expected self-insurance reserves, on top of higher operating costs at FedEx Ground. The company has been pouring money into its ground segment as it tries to keep up with the boom in online shopping. Founded as an air express company, FDX is relatively new to ground delivery & only added home delivery service in 2000. It has been rapidly expanding its ground network to accommodate the big increase in e-commerce packages. Yesterday, FDX announced it would raise shipping rates at its FedEx Express, FedEx Ground & FedEx Freight shipments starting Jan 4 & will increase the surcharges for shipments that exceed the published maximum dimensions in the FedEx Ground network starting Nov 2. Overall, for the fiscal Q1 ended Aug 31, EPS was $2.42, up from $2.26 a year-earlier. Revenue rose to $12.3B from $11.7B a year ago. Analysts expected EPS of $2.46 on revenue of $12.3B. At its ground segment, revenue jumped 29% to $3.83B, helped by its acquisition of logistics provider GENCO Distribution System & higher ground revenue per package & volume. At the company's biggest segment, express, revenue fell 4% to $6.59B. A 1% increase in US domestic package volume was offset by lower fuel surcharges & currency impacts. The freight segment's revenue was essentially flat at $1.61B, as shipments for the less-than-truckload operation edged down 1%. The stock slumped 4.37. If you would like to learn more about FDX, click on this link:
club.ino.com/trend/analysis/stock/FDX?a_aid=CD3289&a_bid=6ae5b6f7
FedEx Trims Outlook on Weak Demand
FedEx (FDX)
Oil rose after an unexpected draw-down in US stockpiles & on the back of rising global markets. The stock & commodity markets were feeling good today, hoping for the best tomorrow. Whether the Fed decides to raise interest rates or not, this rally may not last. It could be another case of buy on the rumor & sell on the news. The Dow is finally in the black for Sep.
Dow Jones Industrials
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