Thursday April 16, 2015
Good Morning Traders,
Morning Notes
US Futures are down this morning ahead of US weekly jobless claims report out at 8:30 A.M. March housing starts also are out this morning at 8:30 A.M. and may hint to further clues on how the Fed will handle the timing of an interest rate hike. European Markets are currently trading lower on renewed fears of Greece default. Asian Markets closed mixed.
Technicals
The $SPY made a moderate move higher in yesterday’s session while once again testing the minor descending resistance of $210.50 and closing at $210.43. New upper range support will be $209.50 and holding this level should keep the momentum for a move higher. Breaking the $210.50 resistance will take the $SPY to $211.50, the next major point of descending resistance.
In Play
MNOV: MediciNova – The Company received fast track designation from FDA for MN-001 (tipelukast) for the treatment of patients with nonalcoholic steatohepatitis (NASH) with fibrosis. Gapping up 45% with a 21M share float.
NFLX: Netflix – The Company reported the Q1 subscription additions beat estimates and sees Q2 subscriptions above estimates. Board recommending a stock split. Upgraded by FBR to outperform with a $900 P/T.
Economic Calendar
08:30 Housing Starts [Mar] – Consensus 1.04M
08:30 Housing Starts (MoM) [Mar] – Consensus 15.90%
08:30 Building Permits [Mar] – Consensus 1.08M
08:30 Building Permits (MoM) [Mar] – Consensus (2.0)%
08:30 Jobless Claims 4-Wk Avg. – Prior 282.25K
08:30 Initial Jobless Claims – Consensus 280.0K
08:30 Continuing Jobless Claims – Consensus 2.31K
10:00 Philly Fed New Orders
10:00 Philly Fed Employment
10:00 Philly Fed Prices Paid
10:00 Philly Fed CAPEX Index
10:00 Philly Fed Manufacturing Index – Consensus 6.00
10:00 Philly Fed Business Conditions
10:30 EIA Natural Gas Report
13:30 FOMC Lacker Speaks In Palm Beach, FL
15:00 FOMC Fischer Speaks at IMF Spring Meeting In Washington
Earnings Before Open
GS: Goldman – EPS Est. $4.082. Rev Est. $9.09B
KEY: KeyCorp – EPS Est. $0.26. Rev Est. $1.04B
C: Citigroup – EPS Est. $1.40. Rev Est. $19.88B
PM: Philip Morris – EPS Est. $1.02. Rev Est. $6.16B
SHW: Sherwin-Williams – EPS Est. $1.43. Rev Est. $2.50B
FCS: Fairchild Semi – EPS Est. $0.11. Rev Est. $350..37M
Earnings After Close
SLB: Schlumberger – EPS Est. $1.03. Rev Est. $10.78B
MAT: Mattel – EPS Est. $(0.08). Rev Est. $913.06M
AMD: Advanced Micro Devices – EPS Est. $(0.05). Rev Est. $1.05B
Happy Trading!
