Dow futures are up even further today to 13,548, a gain of 33 points, while S&P futures have gained about three points on the day. Crude futures and metal futures all up; gold is up 10 and oil is up 0.75 points.
The euro/USD rose today about a third of a penny on news from Spain that a bailout may be in order in the near future. Spain is considering freezing pensions and raising the retirement age to cut spending under the plan agreed upon in an aid agreement.
Apple’s iPhone store release today pushed AT&T (T| $38.46) higher about 1.34% for the day. AT&T’s 52-week range is about $11 with a low and high of $27.41 and 38.58. AT&T hit the low in July, bounced up almost to its 52 week high and has stayed relatively steady sitting between $37 and $38. Apple has been performing headcounts at every store for those lined up to buy the iPhone 5 and they are now suggesting record sales for the new phone. Apple hit another new all-time high today at $705.07 but bounced back down to $703 after noon, CST.
Starbucks (SBUX | $51.43) is up about 0.28% on announcements that they will be selling electronic brewers and a new single serve coffee line. Starbucks is ten dollars short of its 52 week high, the range being $35.12 to $62.00. Starbucks is up $3 since Monday.
Alex Kalish has a master’s degree in economics from Suffolk U.
Questions, comments and suggestions welcome: alexk@keeneonthemarket.com
