Thursday April 2, 2015
Good Morning Traders,
Morning Notes
US Futures are down this morning ahead of an expected increase in US weekly unemployment report along with an expected decline in the February factory orders report. European Markets are trading slightly down and Asia settled higher.
Technicals
The $SPY tested ascending support yesterday at $204.80 and closed above. However, the $SPY did closed below the midrange level of support of $206 signifying a tired, weak market. Critical lower support is at $204 then $202. Resistance lies at $206.42 then $208.10.
In Play
KMX: CarMax 4Q EPS and sales beat estimates. Gapping up over 4% at lifetime highs.
RPRX: Repros Therapeutics announced that FDA accepts its NDA(New Drug Application) for review. Gapping up over 20% with 24M share float.
Economic Calendar
08:30 Continuing Jobless Claims – Consensus 2.40M
08:30 Initial Jobless Claims – Consensus 285.0K
08:30 Trade Balance – Consensus -$41.20B
08:30 Jobless Claims 4-Wk Avg. – Prior 297.0K
09:45 ISM – NY Business Conditions
10:00 Factory Orders (MoM) – Consensus -0.50%
Earnings After Close
FC: Franklin Covey – EPS Est. $0.11, Prior $0.12. Rev Est. $49.41M
Happy Trading!
