Wednesday June 17, 2015
Economic Calendar 6/17/2015
Morning Notes
US Futures are pointing slightly higher this morning ahead of the FOMC statement at 2:00 P.M EST. In the spotlight will be the comments regarding interest rates and from Fed Chair Yellen. European stocks are down again today as it continues to feel the pressure with the situation in Greece.
Technicals
The $SPY rallied in yesterday’s session closing at $212.25 which is above both descending and horizontal resistance levels. Next resistance will be at $211 and then $212.70. Upper support will now be at $210.
In Play
SGYP: Synergy Pharmaceuticals – The company announced its late-stage study of a gastrointestinal drug significantly exceeded expectations, fueling prospects that the company will attract a takeover offer. Gapping up 47% with a 87M share float.
CRMD: CorMedix Inc – The company announced it has received positive feedback from the FDA regarding a second pivotal clinical trial protocol. Gapping up 21% with a 24M share float.
Economic Calendar
10:30 Crude Oil Inventories – Consensus (1.83M)
10:30 Gasoline Inventories – Consensus 733.0K
10:30 EIA Weekly Distillates – Consensus 1.33M
2:00 FOMC Statement
2:30 Chair Yellen Press Conference
Earnings Before Open
FDX: FedEx – EPS Est. $(0.20), Rev Est. $20.10M
Earnings After Close
ORCL: Oracle – EPS Est. $0.87, Rev Est. $10.95B
JBL: Jabil Circuit – EPS Est. $0.49, Rev Est. $4.46B
PIR: Pier 1 Imports – EPS Est. $0.08, Rev Est. $434.53M
Happy Trading!
