Monday April 20, 2015
Good Morning Traders,
Morning Notes
US Futures are slightly higher this morning and European Markets are trading higher on news out of China that they would be boosting their stimulus program. US Markets fell sharply on Friday on the free fall of China markets after their announcement to ban margin buying and expand short selling capabilities.
Technicals
The $SPY tested mid range support of $207 on Friday, held and closed at $207.95. The $SPY will need to reclaim the $209 level for a move back up. Resistance lies at $209 and $210.30. Support remains at $207.
In Play
GENE: Genetic Technologies – Company announced that a further two new breast health centres will begin to offer BREVAGenplus to their at-risk patients in a systematic fashion. Gapping up 26% with just under a 4M share float.
HQCL: Hanwha Solar – Company announces a 1.5 GW Solar Module Supply Agreement to Power NextEra Energy Resources’ continued solar investments in the U.S. Gapping up 11%.
Economic Calendar
08:30 Chicago Fed National Activity Index
Earnings Before Open
RCL: Royal Caribbean Cruises – EPS Est. $0.14. Rev Est. $1.86B
MS: Morgan Stanley – EPS Est. $0.79. Rev Est. $9.17B
HAS: Hasbro – EPS Est. $0.09. Rev Est. $660.27M
Earnings After Close
STLD: Steel Dynamics – EPS Est. $0.22. Rev Est. $2.26B
IBM: IBM – EPS Est. $2.86. Rev Est. $19.86B
CNI: Canadian National Railway – EPS Est. $0.85. Rev Est. $3.06B
Happy Trading!
