Tuesday July 14, 2015
Economic Calendar 7/14/2015
Morning Notes
US futures are slightly lower and European stocks are trading lower after yesterday’s sharp rally. The Q2 earnings season officially kicks off today with Earnings from JPM, WFC, and JNJ. Asian stocks closed mixed.
Technicals
The $SPY traded sharply higher in yesterday’s session holding well above the $208 support and closing at $209.77, just under the next resistance point of $209.8. New support will be at the low of yesterday’s range, or $208.94 – $209. The overhead resistance lies at $209.8, $210.60, and $211.25.
In Play
BIOC: Biocept – The company announced the launch of its proprietary, quantitative assay targeting BRAF mutations utilizing a patient’s blood sample. This diagnostic assay has the potential to help physicians identify patients who might benefit from currently available targeted therapies. Gapping up 15% with a 14M share float.
TBIO: Transgenomic – The company announced the launch of the Transgenomic Leukodystrophy NGS Panel for the diagnosis of leukodystrophy, a group of rare progressive genetic disorders that affect the central nervous system by disrupting the growth or maintenance of the myelin sheath insulating nerve cells. Gapping up 19% with a 9.1M share float.
Economic Calendar
8:30 Export Price Index (MoM) [Jun]- Consensus 0.20%
8:30 Import Price Index (MoM) [Jun]- Consensus 0.10%
8:30 Retail Sales (MoM) [Jun]- Consensus 0.30%
8:30 Core Retail Sales (MoM) [Jun]- Consensus 0.50%
8:30 Retail Sales Ex Gas/Auto (MoM) [Jun]
8:55 Redbook (YoY)
8:55 Redbook (MoM)
9:00 Business Inventories (MoM) [May] – Consensus 0.30%
4:30 API Weekly Gasoline Stock
4:30 API Weekly Crude Oil Stock
4:30 API Weekly Distillates Stock
Earnings Before Open
JPM: JP Morgan – EPS Est. $1.44, Rev Est. $24.59B
WFC: Wells Fargo – EPS Est. $1.03, Rev Est. $21.68B
JNJ: Johnson & Johnson – EPS Est. $1.69, Rev Est. $17.74B
Earnings After Close
YUM: Yum Brands! – EPS Est. $0.62, Rev Est. $3.19B
CSX: CSX – EPS Est. $0.53, Rev Est. $3.13B
Happy Trading!