Apple shines as stock market rallies on Friday following stellar U.S. job gains

104 Comments

“The stock market enjoyed a mild yet broad rally on Friday following stellar U.S. job gains and a decent rise in hourly wages for February,” David Saito-Chung reports for Investor’s Business Daily. “The Nasdaq composite’s 0.3% gain exceeded advances of 0.2% for both the S&P 500 and the Dow Jones industrial average. ”

“Apple rose 0.4% to 139.20, reaffirming its dominance among blue chip techs in 2017. The megacap iPhone maker is now up 26% past a 110.33 cup-with-handle buy point that IBD noted in a Stock Market Today column on Sept. 14 last year,” Saito-Chung reports. “Apple has also acted well since forming another cup with handle and breaking out of that base on Jan. 6 at 118.12.”

“In that cup with handle, the decline was extremely mild at just 12.3% from head to toe. This is actually a good thing, however, when you consider that most solid cup-with-handle patterns tend to show a decline of 20% to 30%,” Saito-Chung reports. “Plus, Apple’s handle, which formed over six sessions in late December, showed a very light drop in bone-dry trade. That’s ideal action for the final shakeout of uncommitted holders before a potential new breakout and big rally to 52-week or all-time highs arrives.”

Read more in the full article here.

“Nonfarm payrolls increased by 235,000 in February and the unemployment rate was 4.7 percent in the first full month of President Donald Trump’s term, the Bureau of Labor Statistics reported Friday,” Jeff Cox reports for CNBC. “Average hourly earnings increased by a healthy 2.8 percent on an annualized basis.”

“Construction led the way, growing by 58,000, the most in almost a decade, while manufacturing also posted strong gains with 28,000 new jobs,” Cox reports. “Economists surveyed by Reuters had expected the economy to add 190,000 jobs.”

“The numbers come amid heightened expectations for economic growth as the president pushes an agenda of tax cuts, less regulation and higher domestic spending. Earlier in the week, ADP and Moody’s Analytics reported that private payrolls increased by a surprising 298,000,” Cox reports. “‘You’re getting more strength in the labor market than I would have anticipated,’ said John Canally, chief economic strategist at LPL Financial. ‘There’s been a burst in animal spirits since Trump was elected.’ The total of employed Americans surged by 447,000 to 152.5 million, the highest ever.”

Read more in the full article here.

MacDailyNews Take: Not a new all-time closing high, but close for Apple (all-time closing high stands at $139.79 on March 3, 2017).

AAPL at $142.86 per share would equal $1000 per share pre-split (2014’s 7:1 split).

SEE ALSO:
U.S. Consumer Comfort Index hits highest level in a decade – March 9, 2017
Samsung plans major U.S. expansion, would shift manufacturing from Mexico – March 8, 2017
U.S. private sector job creation booms in President Trump’s first full month as employers add 298,000 jobs – March 8, 2017
Apple supplier Sharp may begin building $7 billion U.S. plant in within months as Japan PM meets President Trump – February 8, 2017
Foxconn-Sharp considering LCD plant in USA, plans in response to President-elect Trump’s ‘Make in America’ call – January 13, 2017
With President Trump soon to take office, Apple looks to boost its ‘Made in America’ credentials – January 10, 2017
Make America Insanely Great Again: Apple seeks to expand Made in USA manufacturing – January 9, 2017
Apple invests $1 billion in SoftBank’s massive tech fund; may help company get in President Trump’s good graces – January 4, 2017
Apple in talks to invest $1 billion in SoftBank tech fund – December 13, 2016
Softbank to invest $50 billion in the U.S., create 50,000 new tech jobs after meeting with President-elect Trump – and Apple supplier Foxconn is in on the deal – December 6, 2016
President-elect Trump invites tech leaders to roundtable in Manhattan next week – December 6, 2016
President-elect Trump tells Apple CEO Tim Cook that he’d like to see Apple make products in the U.S. – November 23, 2016
President-elect Trump says Apple CEO Tim Cook called him after election victory – November 22, 2016
Apple could make iPhones in the U.S.A. under President Trump, sources say – November 17, 2016
Japan’s Softbank just became one of Apple’s most important suppliers – July 18, 2016

104 Comments

    1. No, these were largely CONSTRUCTION jobs, most of which pay high wages and actually BUILD something useful. Not That cheapo SEIU “service” crap..cause by CHANGE in Attitude
      by Evil Capitalists..and I’ll BET the numbers are revised upward in about a month..still a lot of leftover Obama bean counters writing reports, etc

      Reply

        2. So are you now saying that Trump controls the weather? And the job losses in other areas are entirely the fault of someone else? As usual, botty, you attribute all positives to your team and all negatives to the other team. I don’t know how you can stand to be such an argumentative twit.

          “Nonfarm payrolls (which includes construction jobs) increased by 235,000 jobs last month as the construction sector recorded its largest gain in nearly 10 years due to unseasonably warm weather.”

          But the election year euphoria is dying off too. “Data ranging from trade to consumer and business spending suggest the economy slowed further early in the first quarter after growing at a 1.9 percent annualized rate in the final three months of 2016. The Atlanta Fed is forecasting gross domestic product growing at a 1.2 percent rate this quarter.”

          “”It’s important to remember that President Trump inherited an economy that was already making steady progress towards full employment,” said Elise Gould, a senior economist at the Economic Policy Institute in Washington.”

          Other jobs vital to the US economy aren’t very robust, and there are signals from the travel industry that 2017 will be soft due to the unwelcoming political climate this administration projects.
          “Retail sector employment fell 26,000, the biggest decline since December 2012, after a gain of 39,900 jobs in January. Retailers including J.C. Penney Co Inc (JCP.N) and Macy’s Inc (M.N) have announced thousands of layoffs as they shift toward online sales and scale back on brick-and-mortar operations.”

          “Utilities shed 1,000 jobs last month because of the milder weather. Government payrolls increased by 8,000 jobs, with federal employment rising 2,300 despite a freeze on the hiring of civilian workers that went into effect in January.”

        1. You can spout off all the insults your crusty brain can muster, but you are clearly not capable of dealing with facts. How much are you being paid to post your endless fact-free non sequitur?

        4. More insult slinging. I didn’t run for these federal government positions. I find the partisan bullshit from you only slightly more revolting than the whining that inept democrats make. But make no mistake, midterm elections are going to have consequences too. Your hero is going to need more that Twitter to achieve anything over the long term.

        5. First, he’s pissed off he didn’t get first post. It must have been a bathroom break. Second, getting confronted with facts that disrupt his cockeyed world view cause his head to explode.

        12. It neither knows what usurper means:
          “a person who takes a position of power or importance illegally or by force.” Is it saying Obama was not elected?
          Nor does it seem to know that even if Obama were a Muslim, this is what Article 6 of the United States Constitution says:
          The Senators and Representatives before mentioned, and the Members of the several State Legislatures, and all executive and judicial Officers, both of the United States and of the several States, shall be bound by Oath or Affirmation, to support this Constitution; but no religious Test shall ever be required as a Qualification to any Office or public Trust under the United States.

        16. Shit happens, botty. You will see. The Trump honeymoon period is already wearing thin and things will change after the GOP pisses off the majority of people. I just hope that the pendulum swings toward moderation. Perhaps a third party candidate will have a better shot against the extremists. I might run next time…

        18. No, botty. Mike is right and you are wrong. The economic results during Trump’s first full month is just a continuation of the steady growth under Obama. I would be willing to concede that Trump might have added a slight bump to some of the data based on his tax cut plans and the general upswing in consumer sentiment that generally follows a new POTUS. But you cannot reasonably start boasting about Trump “results” for at least six months…see if the long term trends change any, up or down…

        20. The Obama Legacy Memorialized:

          “North Dakota Names Landfill After Obama”

          The state of North Dakota has named a new publicly-owned landfill after President Barack Obama.

          In an overwhelming 35-10 vote, the state Senate advanced a bill naming a 650-acre site currently under construction after the nation’s 44th president. Governor Jack Dalrymple is expected to sign the measure into law Tuesday.

          When completed, the Barack Obama Memorial Landfill will be the largest waste disposal site in North Dakota, and the 17th largest in the United States. It will be especially rich in toxic waste from the local petroleum and medical industries.

        29. Nice meaningless rhetoric Botty. When the numbers don’t fit your script you resort to your name calling garbage. Beyond him using the term “Bush Crash” which is completely inaccurate, there is almost no ideology in his remark and zero claim of any partisan economic theory or school of thought.

          You on the other hand throw out a term like Global-Marxist as part of your act and you know it has zero relevance to Obama or the growth of the last eight years.

          I am glad we will have significantly less regulation, but the idea that we will enjoy true free markets and enterprise is a pathetic dream. I know you are smart enough to know that which can only mean you are reaching for an Academy Award because you know facts are not on your side. Put up and shut up would be a good approach, but you have just about nothing but your act to put up.

          Your boy Donald will have to preside over an almost 200% gain in the indexes to equal what occurred while Obama was President. The DJIA will have to go to 40,000 by January 2020 and 60,000 by 2024 to match the performance while Obama was in office. I wouldn’t be holding my breath for that.

          The more you debase yourself like your tirade about reflects, the more I begin to question my view of your intelligence and leadership skills. Be careful, history clearly demonstrates that type of behavior from leaders is only successful over the very short term or when your followers are morons. What do you think will happen when your legions figure out you think their IQ ranks up there with a dolt?

        31. Let it go. Botvinnik is nothing more than an obnoxious troll trying to get your goat. Fact don’t matter when all he needs to do is drop insults and spout outrageous nonsense to illicit an emotional reaction.

          I’ve been there, don’t bother. Ignore the troll and he will go away.

          Arguing with Botvinnik is like playing chess with an pigeon. It’ll just knock over all the pieces, shit on the board, and strut about like it’s won anyway.

        1. Mike was so depressed last night thinking about The Muslim Usurper, The Clot, wars, jobs, his meager savings, Social Security, retirement funds, etc., he called the Suicide Lifeline.

          He got a call center in Pakistan , and when he told them he was suicidal, they got all excited, and asked, “Mike, can you drive a truck?”

    2. Just to be clear, the “ghastly mess” was the Bush Administrstion. Interest rates dropped very low during the Bush Administration and led to the extended housing run up that led to the massive crash. There was no room left to drop interest rates to combat the recession following the housing crash..

      Reply

  3. Thank you, President Trump!

    And, thanks also to Steve Bannon, Reince Priebus, Jared Kushner, Mike Pence, Steve Mnuchin, Mad Dog Mattis, Jeff Sessions, Rex Tillerson, Wilbur Ross, Tom Price, Ben Carson, Elaine Chao, Betsy DeVos, Rick Perry, Linda McMahon, Scott Pruitt and the rest of President Trump’s amazing Dream Team!

    You ain’t seen nothing, yet!

    #MAGA

    Reply

        1. Obama was paying the credit card bill for whom, botty? The guy who started 2 foreign wars, launched Medicare Part D, No Child Left Behind, and a Veterans Administration expansion all without budgeting for them. Then walked away as the unregulated real estate mortgage bubble popped.

          You seriously don’t understand what it means to pay the piper, do you, botty?

        4. look, stupid…no one, and certainly not me, is defending globalist trash Dubya…he is the same trash as his father and grandfather and Horndog Billy, The Muslim Usurper and The Clot.

          you just don’t get what happened last November…you’re going to see it happen again with Le Pen and Wilders.

        5. Since when do you give a shit about France, the Netherlands, or the UK?

          Populist idiocy, religious discrimination, and isolationism has never created a strong country or lasting peace and prosperity.

          On the other hand, we do have plenty of evidence to show that Bannon-style authoritarianism can be very stimulating to an economy, right up until the overthrow of the oppressive regime.

        7. So that is why you’re a cheerleader for the most vile anti-liberty president in recent history? Get a clue, man. Deficit spending erodes your liberty. Walls confine your liberty. Militarization of police departments and undermining of democratic processes erode your liberty.

          If you had any sense of principle, you’d be promoting the ideas of Rand Paul. But you don’t. You’re just a paid propagandist shilling for the RNC, which more than ever is out to ENLARGE the federal bureaucracy and enrich themselves by taking corporate lobbyist bribes. You and the formerly reasonable GOP have become absolutely pathetic.

    2. I have seen far too much already, Fwhatever. Trump is mostly surrounded by scum scraped from the edges of the swamp, and Bannon is the Swamp Thing. I am terribly concerned about the possibility that “I ain’t seen nothing, yet” because the first 50 days have been a mess of executive orders and tweets.

      Enough accusations, Trumpster. Trumped up fantasies served up by BreitbartDailyNews.

      Reply

    1. the one star rating I got is interesting.

      it shows that Partisanship makes people NOT THINK.

      what was wrong with my statement that aapl going up 0.4% is not a big deal ? The one star guy thinks it IS a big deal that it requires a headline “Apple SHINES” ?

      note I didn’t even question the job stats, or criticize Trump etc, I was ONLY commenting about Apple’s role in the click bait headline.

      0.4% easily falls into basic day to day fluctuations. It hardly “Shines”.

      People are so worried , so partisan that ANYTHING that HINTS at questioning their pre set political position sets them off into ‘attack mode’ and switches off their brains.

      sad.

      (btw years ago I read practically every D.Trump book like Art of the Deal, Comeback etc. i.e Didn’t follow him after he became a reality TV host. I’m sort of open minded about stuff… Seriously people shouldn’t be SO PARTISAN but think through every situation on it’s own merits )

      Reply

      1. WTF are you talking about? again like I said partisan NO BRAINS.

        as my long post explains I was just referring to TODAY’s 0.4 rise as I QUOTE from the ARTICLE: ““Apple rose 0.4% to 139.20, reaffirming its dominance” for the clickbait headline “Apple Shines”. O.4% means nothing due to day to day fluctuations.

        taking about since Nov 9, someone else could say : ARE YOU GOING TO TALK ABOUT THE 4000 % APPLE ROSE OVER THE LAST TWO DECADES BEFORE TRUMP?

        (WTF has that got to do with what I’m saying?)

        GWAD… idiots.

        Reply

        1. for the partisan idiots who still don’t get it…

          nowhere in my posts did I criticize OR support Trump, all I said was that 0.4% rise is meaningless as it’s within the range of day to day fluctuations…

          what partisan idiots always seem to do is ATTACK if they even IMAGINE someone is criticizing their hero or supporting their villain. Get a grip dudes.

        3. Novak is being sarcastic and it doesn’t refer or answer anything in my post which is the FACT that 0.4 % increase is meaningless . It is Partisanship Without Brains.

          (PWB bothers me as that is one of the reasons there’s so much problems in society, people get so wrapped up into “I’m Lib, I’m conservative” they don’t think anymore. ).

          “Don’t get your panties in such a jihad”
          look at all your crazy D. Trump supporting rants, practically everyday hundreds of them . .. and you are calling others ‘jihad’? seriously?

          ( and saying that doesn’t necessarily make me a ‘Lib’ either or the reverse, note in my dozens of MDN posts I don’t comment on politics at all).

        5. I was ALSO called conservative pig by many others on other threads like when I criticize some of Tim Cook’s policies.

          Like I said PARTISANSHIP WITHOUT BRAINS.

          where in this WHOLE THREAD DID YOU DETERMINE I’M A LIBERAL?
          please point it out.

          saying your “crazy D. Trump supporting rants, ” doesn’t show me a liberal thinker, it’s just a factual observation.

          (like I said I don’t usually do politics but I’lll like to point many prominent Republicans aren’t particularly fond of D.T either, Does THAT make them ‘libtards’? — and note I’m not even saying here I’m like those Trump hating Republicans, I’m just as usual pointing out a fact. From my post you you wouldn’t know if I agreed or disagreed with some of D Trumps policies — and like I said I read most of Trumps books BEFORE he got into politics — did you ? )

  5. Not sure I get where “stellar” comes from on this. It was decent job growth. But we had 237K in February of 2016 and 238K in February of 2015. So, 235K from the Bureau of Labor Statistics for February of 2017 is about par for the course. Hopefully the numbers get better. It was fun this morning hearing the same people who would blast the numbers every month under Obama raving about essentially the same number under Trump. Give me a little realism here.

    Reply

    1. Construction largest in ten years.

      Manufacturing triple government jobs.

      It is going to be a wonderful eight years, compared to 94% of new jobs in stuff like part time fast food restaurant jobs.

      Reply

      1. I guess all I was trying to say is that “stellar” is overselling it a bit. It is solid and there are some better parts of it, but I think that is all that can be said right now. And the numbers are preliminary and subject to revision over the next couple of months. The numbers are good and hopefully will continue to improve, just NOT stellar. But I guess perhaps we now live in a world where everything must be awful or wonderful and you just cannot have okay or good things.

        Reply

        3. Show us the evidence, of wiretapping Mr. FactFree.

          The above chart is unfortunately out of date. The fat Cheeto has spent $3 million in taxpayer money per trip for his entourage to visit his Florida resort. He’s played golf 8 times in 6 weeks of his presidency, and stayed at his M-a-L resort about 30% of the time.

          Obama didn’t play a single game of golf in the first 4 months of his presidency — probably because he was handed a full blown economic crisis instead of a steadily growing economy.

          Why are you so convinced that Trump is telling you the truth when he claims to be working for you?

          http://www.dailykos.com/story/2017/3/6/1640646/-Donald-Trump-spends-31-of-time-on-vacation-plays-golf-8-times-in-6-weeks-on-taxpayer-dime

        5. Oh I am so sorry botty. But the Drudge report is a bit dated: http://www.drudge.com/news/208615/paying-trumps-travel-and-security-costs

          http://www.washingtonexaminer.com/its-literally-pay-to-play-at-mar-a-lago/article/2616474

          >30% of time on vacation
          8 golf outings
          $200k paid access to personal time with president in his resort.

          Whine all you want about the link, the fact is that Trump is on par to easily beat Bush 43’s vacation record — personally profiting from the presidency, not serving you and me.

        9. Seek professional psychiatric help botty. You offer nothing but juvenile insults. If you had any valid points or data, you’ve had ample opportunity to present them. But you don’t. You’re just another political asswipe here to insult everyone until you’re left by your lonely self. Some fun you are. I’ve seen elementary kids offer a better debate than you.

        11. In a Repudiation of Trump, a Senior House Leader Rejects Wiretap Claim

          “We don’t have any evidence that that took place,’’ Representative Devin Nunes, Republican of California and chairman of the House Intelligence Committee, said at a news conference on Capitol Hill. “In fact, I don’t believe — in the last week of time, people we’ve talked to, I don’t think there was an actual tap of Trump Tower.”

          https://www.nytimes.com/2017/03/15/us/politics/trump-wiretap-claim-obama-comey-congress.html?rref=homepage&module=Ribbon&version=context&region=Header&action=click&contentCollection=Home%20Page&pgtype=article

          I know what you’re going to say, botty. You are going to say that you know everything and your republican congressmen in the intelligence committee knows nothing and because the NY Times reported it, therefore it must be “fake” or “lies”.

          When the investigation is finished, I predict that we will see that Trump’s paranoia and vindictive personality, general ignorance of government operations and laws, plus arrogant authoritative style, are leading him to spread falsehoods and baseless accusations. Much like you, botvinnik.

        1. I am happy for anyone who finds gainful employment. But that’s not the point here is it? Your insulting partisan demeanor makes it sound like nothing good every happened between Reagan losing his mind in office and Jan 20, 2017. That is the problem. Your black and white view of the world is so inaccurate that you are deceiving yourself. I’m here to tell you to hold your load until we see how this thing plays out. It will be many more months before any Trump policies actually hit. All you are seeing now is a warm spring and Wall Street making bets that deregulation will enable them to rape consumers even more this year.

          Botty, would you have the common courtesy of asking the same question to the millions of people who recovered their jobs since the 2008 economic crash? You insist on ignoring long term trends in order to make Trump look good. In the process, you make yourself look like an arrogant jerk. No wonder you have no friends.

        5. Congratulations on you use of the english dictionary. I am glad they are teaching you stuff like that in Russia. Now with a few more years of education, you might be able to form cohesive sentences.

  8. Botvinnik:

    I’m going to point out 3 things to you and then I fully expect you to continue to act like a crazy person:

    February jobs from 2015-2017
    2015- 238,000
    2016- 237,000
    2017-235,000

    Now, since you’re celebrating this number, by extension you must celebrate those other two numbers which were basically the same and slightly higher. The fact that you don’t is troubling and beyond hypocritical. That is all.

    Reply

    2. Road Warrior,
      I used to be really critical of your view of our country.

      I still think that your view of the era since the CIA got caught overthrowing Latin American governments is too negative. Afghanistan posed a real danger to our country and the world. Iraq was a huge failure of intelligence (in both the technical and everyday senses), but Saddam Hussain was hardly a saint. Recent CIA/NSA spying was no worse than the spying on the U.S.

      However, when I read the comments on this website, I have to wonder if Americans have lost their collective minds.

      Reply

      1. I’ll try this again, for some reason some of my posts just don’t make it.

        Why thank you TxUser. To put some perspective on it I have always been supportive of your nation. I can appreciate that you think I lay it on strong, but on the other hand the first 9-11, 1973 where you arranged to Pinochet take over a democratically elected government, and the resulting torture and deaths, that’s a pretty low blow.

        Afghanistan a danger to your country? Please, I’ll grant you that they have a major issue with the opium situation there, but you should have learned after the Russian failure there. Mind you it is NATO so I’m more supportive of that situation but it’s become part and parcel of your disturbance of the balance of power.

        These “dangers” to your country become a bit one sided after watching your country rage, or wage war there. Just how many of your civilians have been killed in your country by Iraqis or Afghanistan? Not many in fact, I doubt a single one. Now compare that to the number of civilians members of your country have killed in their countries. Thousands no doubt.

        You’ve lost your way in my opinion during the aftermath of 9-11, the second one. Taking down a couple of buildings and your whole house of cards went down. I used to talk, calmly and rationally, about letting the UN do it’s job in Iraq, that there was no active WMD program going on there (sure you found some old munitions from a previous program but really now, there was no threat to your nation from Iraq, on the contrary your nation was the threat to Iraq and subsequently the rest of the world. Along the way you’ve embraced torture and other barbaric practices, your country is no better than the other terrorist organizations that you are fighting. You might be better equipped but you’ve lost the moral high ground.

        The Universal Declaration of Human rights is a simple document that you’ve signed. Oh it’s not legally binding but it shows the value of your word. It’s pretty clear that you’ve crossed the line and sadly you are staying there, and that blatantly points out that your word is not worth much.

        I hope one day your country can its act together. Shake away the denial and acknowledge what you’ve done, make retribution for it, rebuild the trust, add a bit of humility and humanity into the mix.

        Your minds are one thing to lose but your heart and soul is also added to the mix.

        Keep posting, cause I will and I hope we can contribute a much needed flow of integrity and morality.

        Reply

Reader Feedback

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Tags: , , , , , , , , ,