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Apple (AAPL) fell 3.74% as the stock was downgraded to "neutral" from "outperform" at Exane BNP Paribas

Apple (AAPL) fell 3.74% as the stock was downgraded to "neutral" from "outperform" at Exane BNP Paribas| FXMAG.COM
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DAILY MARKET NEWSLETTER
January 4, 2023
 
   
 
 
 
Pre-Market Session
News Sentiment
Technical Views
 
 
 
   
 
 
 
apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 1apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 1 Please note that due to market volatility, some of the key levels may have already been reached and scenarios played out.
 
 
 
 
   
 
 
 
Price MovementAnalyst ViewsTargetPivot
 
Dax (Eurex)14,304.00
+46.00 (+0.32%)
apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 2apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 2
14,360.00
14,210.00
 
 
FTSE 100 (ICE Europe)0.00
0.00 (0.00%)
apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 4apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 4
7,618.00
7,510.00
 
 
S&P 500 (CME)3,850.25
+4.25 (+0.11%)
apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 6apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 6
3,883.00
3,820.00
 
 
Nasdaq 100 (CME)10,970.50
+25.00 (+0.23%)
apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 8apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 8
11,070.00
10,850.00
 
 
Dow Jones (CME)33,297.00
+19.00 (+0.06%)
apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 10apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 10
33,460.00
32,980.00
 
 
Crude Oil (WTI)76.66
-0.27 (-0.35%)
apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 12apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 12
75.80
77.40
 
 
Gold1,845.83
+6.34 (+0.34%)
apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 14apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 14
1,872.00
1,839.00
 
 
 
 
   
 
 
 MARKET WRAP 
 
 
 
 
Market Wrap: Stocks, Bonds, Commodities

On Tuesday, major U.S. stock indexes closed lower dragged by Tesla (TSLA) and Apple (AAPL). The S&P 500 fell 15 points (-0.41%) to 3,823, and the Nasdaq 100 slid 77 points (-0.70%) to 10,862, while the Dow Jones Industrial Average dipped 10 points (-0.03%) to 33,136.

The U.S. 10-year Treasury yield dropped 11.3 basis points to 3.761%.

Automobiles (-8.73%), energy (-3.63%), and technology hardware & equipment (-2.8%) sectors lost the most, while consumer durables & apparel (+1.52%), media (+1.42%), and telecoms services (+1.28%) sectors posted gains.

Tesla (TSLA) plunged 12.24% as the market viewed the electric-vehicle maker's fourth-quarter deliveries as lower than expected.

Apple (AAPL) fell 3.74% as the stock was downgraded to "neutral" from "outperform" at Exane BNP Paribas.

On the other hand, Wynn Resorts (WYNN) rose 3.81% as the stock was upgraded to "overweight" from "equal-weight" at Wells Fargo. 

Regarding U.S. economic data, construction spending rose 0.2% on month in November (vs -0.4% expected).

European stocks closed higher. The DAX 40 rose 0.80%, the CAC 40 gained 0.44%, and the FTSE 100 was up 1.37%.

U.S. WTI crude futures fell $3.10 (-3.86%) to $77.13 a barrel.

Gold price climbed $15 to $1,839 an ounce.

Market Wrap: Forex

The U.S. dollar strengthened against other major currencies. The dollar index rose to 104.64. The Federal Reserve will release minutes of its December monetary-policy meeting later on Wednesday.

EUR/USD declined 114 pips to 1.0553. Germany's data showed that the inflation rate slowed to 8.6% on year in December (vs +9.1% expected), and the jobless rate was stable at 5.5% (vs 5.6% expected).

GBP/USD slid 75 pips to 1.1971.

USD/JPY rose 13 pips to 130.93. The pair hit a six-month low of 129.51 within the session.

AUD/USD dropped 75 pips to 0.6727.

USD/CHF added 98 pips to 0.9359, and USD/CAD jumped 99 pips to 1.3672.

Bitcoin traded slightly lower to $16,660.

Morning Trading

In Asian trading hours, USD/JPY retreated to 130.75 from an intraday high near 131.44.

Meanwhile, EUR/USD rebounded to 1.0565 and GBP/USD climbed to 1.1985.

Gold rose to $1,844.

Bitcoin edged up to $16,726.

Expected Today

Final readings of December S&P Global services purchasing managers index is expected at 49.1 for the eurozone, 49.0 for Germany and 48.1 for France.

France's December consumer price index is expected to be up 6.3% on year.

U.K. mortgage approvals are estimated at 56,500.

In the U.S., December ISM manufacturing purchasing managers index is expected at 49.0, while November JOLTS job openings are estimated at 10.1 million. Also, the Federal Reserve will release its latest FOMC meeting minutes.
 
 
 
 
 UK MARKET NEWS 
 
 
 
 
RS Group, a distributor of industrial and electronics products, announced that it has completed the acquisition of Risoul.

Auto & Parts, telecom and industrial goods & services shares fell most in London on Friday.

From a technical point of view, CRH (+4.49% to E38.67) crossed above its 50-day moving average.
 
 
 
 
 ECONOMIC CALENDAR   
 
 
 
TimeEventForecastImportance
 
04:30
apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 16apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 16
BoE Consumer Credit (Nov)
820M
MEDIUM
 
 
04:30
apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 17apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 17
Mortgage Approvals (Nov)
56.5k
MEDIUM
 
 
04:30
apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 18apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 18
Mortgage Lending (Nov)
3.5B
MEDIUM
 
 
07:00
apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 19apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 19
MBA 30-Year Mortgage Rate (Dec/23)
 
MEDIUM
 
 
07:00
apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 20apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 20
MBA 30-Year Mortgage Rate (Dec/30)
 
MEDIUM
 
 
10:00
apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 21apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 21
ISM Manufacturing PMI (Dec)
49
HIGH
 
 
10:00
apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 22apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 22
JOLTs Job Openings (Nov)
10.1M
HIGH
 
 
10:00
apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 23apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 23
ISM Manufacturing Employment (Dec)
48
MEDIUM
 
 
14:00
apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 24apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 24
FOMC Minutes
 
HIGH
 
 
16:30
apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 25apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 25
API Crude Oil Stock Change (Dec/30)
 
MEDIUM
 
 
 
 
   
 
 
apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 26
 
 
 
   
 
 
 NEWS SENTIMENT 
 
 
 
 
Barclays PLC
163.60 GBp
 
 
 
 
apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 27apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 27
 
 
 
apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 28apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 28apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 29apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 29
apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 30apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 30apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 31apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 31
apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 32apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 32apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 33apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 33
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cineworld Group PLC
3.671 GBp
 
 
 
 
apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 34apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 34
 
 
 
apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 35apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 35apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 36apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 36
apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 37apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 37apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 38apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 38
apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 39apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 39apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 40apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 40
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Rolls-Royce Holdings PLC
98.91 GBp
 
 
 
 
apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 41apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 41
 
 
 
apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 42apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 42apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 43apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 43
apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 44apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 44apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 45apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 45
apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 46apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 46apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 47apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 47
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Deutsche Bank AG
11.112 EUR
 
 
 
 
apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 48apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 48
 
 
 
apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 49apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 49apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 50apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 50
apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 51apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 51apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 52apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 52
apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 53apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 53apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 54apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 54
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Standard Chartered PLC
640.20 GBp
 
 
 
 
apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 55apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 55
 
 
 
apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 56apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 56apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 57apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 57
apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 58apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 58apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 59apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 59
apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 60apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 60apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 61apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 61
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Bayerische Motoren Werke AG
85.83 EUR
 
 
 
 
apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 62apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 62
 
 
 
apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 63apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 63apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 64apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 64
apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 65apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 65apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 66apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 66
apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 67apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 67apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 68apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 68
 
 
 
 
 
 
 
 
 
 
 
 TECHNICAL VIEWS 
 
 

 
 
EUR/USD Intraday: rebound.
 
Pivot:
1.0540
 
Our preference:
Long positions above 1.0540 with targets at 1.0615 & 1.0645 in extension.
 
Alternative scenario:
Below 1.0540 look for further downside with 1.0515 & 1.0480 as targets.
 
Comment:
The RSI shows upside momentum.
 
apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 69apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 69
 
 
 
 
 
 
 

 
 
Euro Stoxx 50 (Eurex)‎ (H3)‎ Intraday: intraday support around 3869.00.
 
Pivot:
3869.00
 
Our preference:
Long positions above 3869.00 with targets at 3927.00 & 3959.00 in extension.
 
Alternative scenario:
Below 3869.00 look for further downside with 3840.00 & 3815.00 as targets.
 
Comment:
The immediate trend remains up but the momentum is weak.
 
apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 70apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 70
 
 
 
 
 
 
 

 
 
Brent (ICE)‎ (H3)‎ Intraday: under pressure.
 
Pivot:
82.70
 
Our preference:
Short positions below 82.70 with targets at 80.80 & 80.10 in extension.
 
Alternative scenario:
Above 82.70 look for further upside with 84.30 & 84.35 as targets.
 
Comment:
The RSI is bearish and calls for further decline.
 
apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 71apple aapl fell 3 74 as the stock was downgraded to neutral from outperform at exane bnp paribas grafika numer 71
 
 
 

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