Morning Rage 9.19.2012

Gold and copper futures are up around five points to 1776.60 and one one-hundredth of a point at 3.7990 respectively. Silver, platinum and palladium are down slightly. Crude oil futures are down less than a point to 94.43. The USD has gained $0.11 cents on the Yen after the Bank of Japan’s announcement overnight.

Apple (AAPL | 701.91) tipped over the $700 mark yesterday after teasing with the resistance point on Monday. The explosiveness of the stock has slowed slightly at its current level, gaining only $2.13 yesterday and losing almost a point overnight and in pre-market trading. There has been nothing but praises for the new iPhone 5, pointing the stock towards continued strength as it has made another new all-time high.

Google (GOOG| 718.28) exploded yesterday, up another $8.30 and continued growth overnight gaining about a dollar to 719.00. Google is nowhere near its all-time high of $741, but it is at a 52-week high and continues to break through this level. Mozilla, the builders of the Firefox web browser, plans to compete with Google in the mobile operating area and is currently working with ZTE Corp to implement the software in their phones.

Ascena Retail Group Inc. (ASNA| 21.01) released a positive earnings report this morning, the stock is down a point and a half overnight.

Housing starts report comes out today at 8:30am EST. Housing starts are registrations of new construction generally in residential buildings. Existing home sales report will follow two hours later.

Alex Kalish has a master’s degree in economics from Suffolk U.

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