Diamonds and Dogs

9/13/16

Apple is shining today. Apple's stock (AAPL) is up 2.66%, the only Dow component higher, following news the iphone 7 pre-orders are off to a good start. Phone carrier, T-Mobile said pre-orders for the iphone 7 have shattered all previous iPhone pre-order records at their company. Sprint noted pre-orders are up more than 375% in the first three days. I assume AT&T and Verizon will have similar good news to report. Image how much the markets would be down if the largest market cap stock wasn't up today.

Oil glut is not going away. The energy sector is facing its biggest one-day drop in more than a month after the International Energy Agency warned that the global oil glut would continue into 2017 as OPEC continues to pump at near-record levels while demand growth remains subdued. Chesapeake Energy (CHK) is down 9%, Murphy Oil is down 7%, while Transocean (RIG) is down 6%.