Friday March 27, 2015
Good Morning Traders,
Morning Notes
US Futures are off slightly this morning ahead of the revised U.S. Q4 GDP and the final Consumer Sentiment report that may hint further to the timing of a Fed interest rate increase. European Markets are up on a positive outlook that the ECB’s QE program will meet its goals after ECB President Draghi stated the ECB will not have any problems meeting its debt targets.
Technicals
The $SPY held the $204 support level yesterday closing at $205.27. The $204 zone will now act as pivot support with $202 below that then followed by the 200 Daily Moving Average of $201.10. Resistance to the upside will be the high of yesterday’s range at $206.37.
In Play
OREX: Mysimba approved in Europe for treatment of obesity. This was rumored news yesterday and confirmed today. Gapping up over 10% 115M share float.
OHRP: Ohr Pharmaceutical Says OHR-102 Has Variable Results in Phase 2. Gapping down over 60% with an 18M share float.
Economic Calendar
08:30 Corporate Profits (QoQ) [Q4] – Consensus 1.00%
08:30 Real Consumer Spending [Q4] – Prior 4.20%
08:30 GDP – Final Estimate (QoQ) [Q4] – Consensus 2.40%
08:30 GDP Price Index (QoQ) [Q4] – Consensus 0.10%
08:30 GDP Sales [Q4] – Consensus 2.20%
08:30 Core PCE Prices [Q4] – Consensus 1.10%
08:30 PCE Prices [Q4] – Consensus (0.40)%
10:00 Michigan Consumer Sentiment (Mar) – Consensus 92.0
10:00 Michigan 5-Yr Inflation Expectations (Mar) – Prior 2.80%
10:00 Michigan Inflation Expectations (Mar) – Prior 3.00%
10:00 Michigan Current Conditions – Consensus 103.50
10:00 Michigan Consumer Expectations – Consensus 84.0
10:30 ECRI Weekly Index
10:30 ECRI Weekly Annualized (WoW) Week over Week
15:45 Fed Chair Yellen Speaks
Earnings After Close
DCO: Ducommun – EPS Est. $0.30, Prior $(0.63). Rev Est. $20.10M, Prior $28.31B
Happy Trading!
