Stocks mixed to lower at opening, with VIX up 1.50 to ~33.
AAPL missed on earnings for first time in 7 years. Street was looking for $7.39 per share, Apple reported $7.05 ($4.64 last year). Revenues were up 30%. Share price was off 7% last night, but was trading at $403 – off 19 points , at opening. Mark Sebastian gave us a blog entry two days ago with AAPL over $420, talking about the huge run up in stock price making him nervous. Might be an interesting piece to re-visit.
CPI +0.1% (+0.2 expected), Core CPI in line with a 0.2% rise. Housing Starts much better than expected. Beige Book later this morning. 3Q Earnings keep rolling in.