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10 things you need to know before the opening bell (SPY, SPX, QQQ, DIA, AAPL, TSLA, GE)

10 things you need to know before the opening bell (SPY, SPX, QQQ, DIA, AAPL, TSLA, GE)

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Ski jumpReuters/Lisi Niesner

Here is what you need to know.

  1. Apple warns China is slowing down. CEO Tim Cook sent a letter to investors on Wednesday that cut Apple’s first-quarter guidance, citing a slowdown in China’s economy.
  2. Major Apple suppliers are getting pounded. The facial-recognition-sensor maker AMS plunged as much as 17% Thursday, while the chipmaker Dialog Semiconductor shed 8%.
  3. Stocks are under pressure. Apple slid 8% in after-hours trading, taking down other tech names with it. The S&P 500 was set to open lower by 1.65% after China’s Shenzen Composite fell 0.8% and the Euro Stoxx 50 was down 1.08%.
  4. A ‘flash crash’ ripped through Asia’s currency market. The Japanese yen soared versus its peers late Wednesday, gaining as much as 3.7% versus the US dollar and 7.2% versus the Australian dollar as moves were exacerbated by thin holiday volumes.
  5. 3 top-ranked investment pros all like the same overlooked corner of the market. They all think cellular towers will yield big returns in the year ahead — here’s which names they like and why.
  6. Here’s how we’ll know when the stock market’s bottom is in. “To confirm the resumption of a new bull market we’d like to see this internal breadth gauge surge to 70% like it did at the start of new bulls in 1994, 2003, 2009, 2013, and 2016,” Ari Wald, Oppenheimer’s head of technical analysis, wrote in a note on Tuesday.
  7. Tesla sinks after missing on deliveries and cutting prices. Shares fell 6.81% Wednesday after the electric-car maker announced fourth-quarter Model 3 deliveries and full-year Model S and Model X deliveries that missed expectations and the company said it was lowering prices on the three models by $2,000 each.
  8. GE started off the new year with a bang. General Electric shares surged 6.21% Wednesday — if the gains hold up all year, it would be the best annual performance for the industrial conglomerate since 2015.
  9. The value of a typical Manhattan apartment just fell below $1 million. The median sales price of units sold in Manhattan fell almost 6% to $999,000 from October to December, making for the lowest reading in three years, according to a report from the listing broker Douglas Elliman Real Estate.
  10. US economic data is heavy. ADP Employment Change will cross the wires at 8:15 a.m. ET before initial claims is released at 8:30 a.m. ET. Then, at 10 a.m. ET, ISM Manufacturing is due out. US auto sales will be announced throughout the day. The US 10-year yield is up 2 basis points at 2.64%.

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