Friday June 5, 2015
Economic Calendar 6/5/2015
Morning Notes
US Futures are lower this morning as well as European markets which are trading lower by nearly -1.5% ahead of today’s nonfarm payroll numbers. A selloff occurred yesterday due to Greece’s decision to defer a debt payment to the end of the month which was due today. Asian Markets rallied to a 7 year high as rumors circulate about the Chinese government boosting stimulus.
Technicals
The $SPY put in a false break on the descending resistance on Wednesday, tested it again in yesterday’s session and failed, broke support and closed below the support level of $210.20. Next support is a light ascending trend line at $208.70, and then $208 below.
In Play
PTN: Palatin Technologies – The Company announced it has received FDA backing for a female libido drug. If approved, the drug would be the first of its kind to treat low sexual desire in women. Gapping up 60% with a 37M share float.
ICLD: InterCloud Systems – The Company announced it has been awarded over $1.5M dollars in contracts from clients to deploy state of the art communications systems. Gapping up 12% with a 17.4M share float.
Economic Calendar
8:30 Nonfarm Payroll – Consensus 225.0K
8:30 Private Nonfarm Payroll – Consensus 220.0K
8:30 Unemployment Rate – Consensus 5.40%
8:30 Participation Rate
12:30 FOMC Member Dudley Speaks
15:00 Consumer Credit – Consensus $16.70B
Earnings Before Open
YGE: Yingli Green Energy Holdings – EPS Est. $(0.24), Rev Est. $463.31M
Earnings After Close
NONE
Happy Trading!
