Economic Calendar 4/17/2015

2310

Friday April 17, 2015

 

Good Morning Traders,

 

Morning Notes

US Futures are sharply lower this morning on news out of China that their regulatory commission will ban margin financing for purchase of OTC stock. Chinese futures fell over 5% in after hours trading. US Markets closed mildly lower on Thursday on a weaker than expected jobless claims report and also a lackluster March housing starts report. European stocks are trading at a 3 week low and down by over 1.5%.

Technicals

The $SPY once again tested descending resistance yesterday of $210.30 and pulled back closing off the highs. In premarket, the $SPY is trading sharply lower testing critical support zones. Support lies at $209-$208.80. If this support level fails we can look for a sharp move lower around $207.

SPY_4_17

In Play

NVGN: Novogen – The Company signs an agreement with the Feinstein Institute for Medical Research to collaborate on developing treatments for brain cancers. Gapping up 13% with an 8.5M share float.

NOW: ServiceNow – The Company posted poor Q1 results. Many positive comments out on the street regarding the bright future ahead. Gapping down over 10% with a 139M share float.

 

Economic Calendar

08:30 Core CPI Index [Mar]

08:30 Core CPI (MoM) [Mar] – Consensus 0.10%

08:30 Core CPI (YoY) [Mar] – Consensus 1.70%

08:30 CPI Index NSA [Mar]

08:30 CPI (MoM) [Mar] – Consensus 0.20%

08:30 CPI (YoY) [Mar] – Consensus 0.10%

08:30 Real Earnings [Mar]

10:00 Michigan Consumer Expectations [Apr]

10:00 Michigan Inflation Expectations [Apr]

10:00 Michigan Consumer Sentiment [Apr] – Consensus 93.50

10:00 Michigan 5-Yr Inflation Expectations [Apr]

10:00 CB Leading Index (MoM) [Mar] – Consensus 0.30%t

10:00 Cleveland CPI (MoM) [Mar]

 

Earnings Before Open

CMA: Comerica – EPS Est. $0.73. Rev Est. $626.39M

GE: General Electric – EPS Est. $0.30. Rev Est. $34.29B

STX: Seagate Technology – EPS Est. $1.04. Rev Est. $3.41B

HON: Honeywell – EPS Est. $1.40  Rev Est. $9.55B

RAI: Reynolds American – EPS Est. $0.79. Rev Est. $1.98B

 

Earnings After Close

NONE


Happy Trading!

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