Economic Calendar 6/3/2015

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Wednesday June 3, 2015

 

Economic Calendar 6/3/2015

 

Morning Notes

US Futures are pointing higher and European Markets are trading higher by over 0.6% ahead of today’s ECB meeting and strong Eurozone economic data as retail sales jumped to their highest level in 15 months as well as unemployment falling to a 3 year low. Asian markets closed lower.

 

Technicals

The $SPY tested descending resistance of $212.20 yet again in yesterday’s session while also testing support at $210.20 to then close lower at $211.36. Descending resistance at $212.20 and support at $210.20 will be key zones to watch for further market direction.

SPY_6_3

In Play

MNOV: MediciNova – The Company announced it has received orphan drug status from the FDA for the treatment of Krabbe Disease, a rare genetic disorder generally resulting in death before the age of 2. Gapping up 4% with a 22.4M share float.

SYN: Synthetic Biologics – The Company announced positive initial data validating platform expansion  to protect the microbiome from carbapenems, a class of beta-lactam antibiotics, a vital part to hospital infection management. Gapping up 14% with a 60.8M share float.

CEMI: Chembio Diagnostics – The Company announced news that its  DPP(R) HIV 1/2 Assay receives approval for point of care detection for HIV. Gapping up 9% with a 8.5M share float.

 

Economic Calendar

8:15 ADP Employment – Consensus 200.0K

8:30 US Trade Balance [Apr] – Consensus $(44.00B)

9:45 Services PMI [May] – Consensus 57.00

10:00 ISM Non-Mfg PMI [May] – Consensus 56.50

10:00 ISM Non-Mfg Biz Activity [May] – Consensus 60.50

10:00 ISM Non-Mfg New Orders [May]

10:00 ISM Non-Mfg Employment [May]

10:00 ISM Non-Mfg Prices [May]

2:00 Beige Book

2:15 FED Evans Speaks

2:15 FED Bullard Speaks

 

Earnings Before Open

VRA: Vera Bradley – EPS Est. $0.02, Rev Est. $105.48M

 

Earnings After Close

FIVE: Five Below – EPS Est. $0.07, Rev Est. $151.32M

 

Happy Trading!

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