Apple is going higher, much higher perhaps.

Apple's (AAPL - Get Report) blowout quarter lifted stocks in Asia and boosted global equity sentiment, that much is for sure.

But, a surging euro is capping gains in the region this morning as the dollar continues its longest losing streak in six years amid tepid inflation, mixed economic data and a White House in persistent turmoil.

The euro is up nearly 0.5% against the greenback at 1.1856, the highest since January 2015, while the dollar index is now close to a 15-month low (DXY -0.21% at 92.85). The pound is also way up, as well, gaining 0.3% to 1.3242 and holding down gains for the FTSE 100 (-0.35%).

Earnings this morning have been mixed: BAE Systems (BAESY) beat (and also cautioned on dollar weakness), Rio Tinto (RIO) was largely in-line (although it paid a record $1.1 interim dividend) and most of the banks missed (SocGen and Commerbank fell -4.8% and -1.27% respectively).

Oil is lower (WTI: -13 cents at $49.03) after yesterday's surprise API build but has pulled back from intra-day lows in European trading.

Apple is up 6.14% in pre-market, a bit less that it was in after-hours, after trading around 6.2% higher in Germany. The European supply-chain did well, with big gains for most (including Diaglog, which rose 4.55%) while the company's influence on Asia lifted the tech-sector to the highest level in 17 years.

Wall Street is edging higher, with the Dow slated to top 22,000 (just!) at the opening bell and the Nasdaq priced to rise 0.71% at the start of trading.

What's Smoking Hot On TheStreet Right Now (Besides Apple)

TheStreet came away impressed by Intel INTC CEO Brian Krzanich's plan to transform the tech giant in a new, exclusive interview. Wall Street needs to get off this company's case and give it some credit (stock has lagged this year). Sure, it's no Facebook (FB - Get Report) with its explosive growth rates but the market is probably under-estimating Intel's earnings power over the next five years. MobileEye, with its best in class autonomous car technology, will be very instrumental in surprising all the spreadsheet lovers that model Intel's profits.

Read full interview here.

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