Economic Calendar 7/6/2015

1613

Monday July 6, 2015

 

Economic Calendar 7/6/2015

 

Morning Notes

US Futures are pointing sharply lower this morning while European stocks are off by nearly 2% after the vote in Greece was against austerity. The ECB will meet today to determine the next step. Greek Finance Minister, Varoufakis resigned which can be considered a positive step on the part of Prime Minister Tsipras and signals he may be ready to strike a deal within the hours. Asian stocks closed lower.

 

Technicals

The $SPY is currently gapping down sharply lower back near the 200 day moving average on the Greek concerns. The 200 day moving average will be the first and closest level of support and then very light support at 204. From there, the $SPY has room back to $200. On the upside, watch for the $SPY to hold $208 for a potential move back higher.

SPY_7_6

In Play

CLSN: Celsion – The company announced continuing positive data from its Phase II Dignity study in breast cancer. The study showed 5 complete responses and 4 partial. Of 13 patients eligible and treated, every patient experienced a clinical benefit of  highly refractory disease within the ThermoDox treatment field. Gapping up 5% with a 15M share float.

WTW: Weight Watchers – Weight Watchers International has attracted attention of at least one possible bidder, New York Post reported earlier, citing three people familiar with the situation.

Suitor, which is an activist hedge fund, is talking with potential partners about making co.’s majority owner an offer. Gapping up 28% with a 28M share float.

 

Economic Calendar

9:45 Markit Composite PMI [Jun]

9:45 Services PMI [Jun]

10:00 Fed Labor Market Conditions

10:00 ISM Non-Manufacturing PMI [Jun] – Consensus 56.00

10:00 ISM Non-Manufacturing Business Activity [Jun]- Consensus 59.90

10:00 ISM Non-Manufacturing Employment [Jun]

10:00 ISM Non-Manufacturing New Orders [Jun]

10:00 ISM Non-Manufacturing Prices [Jun]

 

Earnings Before Open

NONE

 

Earnings After Close

SHLM: A. Schulman – EPS Est. $0.77, Rev Est. $608.97M

 

Happy Trading!

 

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