Economic Calendar 7/9/2015

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Thursday July 9, 2015

 

Economic Calendar 7/9/2015

 

Morning Notes

US futures are moving higher by 1% and European stocks are also trading higher on the heels of a bounce back in Chinese stocks overnight. In Greece, the banking holiday has been extended through Monday and has until Thursday at midnight to offer new proposals to European leaders for additional bailout funds. The European leaders will meet on Sunday evening to discuss the proposals and make a decision on the next course of action..

 

Technicals

The $SPY closed back below the 200 day moving average yesterday at $204.53. This morning, the $SPY is moving higher, currently at $206.50. The $SPY will need to hold above the $205.50-$205.70 zone in order to put in a move higher. $208 will be the first point of resistance and support will be the 200 day moving average at $205.60

SPY_7_9

In Play

AMCN: Air Media Group – GeoInvesting out with a statement that they are “confident” that the company’s $6/ADS “go private” deal will close. Gapping up 17% with a 15M share float.

 

Economic Calendar

08:30 Continuing Jobless Claims – Consensus 2.25M

08:30 Initial Jobless Claims – Consensus 275.00K

08:30 Jobless Claims 4-wk Avg.

10:30 Natural Gas Storage

 

Earnings Before Open

PEP: PepsiCo – EPS Est. $1.24, Rev Est. $15.80B

WBA: Walgreens Boots Alliance – EPS Est. $0.87, Rev Est. $29.72B

 

Earnings After Close

PSMT: Pricesmart – EPS Est. $0.74, Rev Est. $690.42M

 

Happy Trading!

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