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
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!