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Monday August 3, 2015
Economic Calendar & Watch List 8/3/2015
Morning Notes
US futures are slightly lower to relatively unchanged this morning as crude slid to over a 4 month low on the increasing global supply, mainly due to the Iranian oil minister noting that they can increase production by nearly 500,000 barrels per day. European stocks are trading higher on better than expected earnings being reported out of large European companies. Asian stocks closed lower.
Technicals
The SPY tested an overhead resistance point at $211.04, rejected and closed back below on Friday. However, the SPY did hold mid range support of $210.16, closing just above at $210.50. Support will remain at $210.16 and overhead resistance will be at $211.45, followed by $211.77, and then descending resistance at $212.60.
In Play
LXRX: Lexicon Pharmaceuticals – The Company Reports Positive Top-Line Results For Pivotal Phase 3 Telotristat Etiprate Study In Cancer Patients With Carcinoid Syndrome. Gapping up 27% with a 5.9M share float.
**Others On Watch**
MBLY
TSN
Economic Calendar
8:30 Core PCE Price Index (YoY) [Jun]
8:30 Core PCE Price Index (MoM) [Jun] – Consensus 0.20%
8:30 Personal Income (MoM) [Jun] – Consensus 0.40%
8:30 Personal Spending (MoM) [Jun] – Consensus 0.20%
8:30 Real Personal Consumption (MoM) [Jun]
9:45 Manufacturing PMI [Jul]
10:00 Construction Spending (MoM) [Jun] – Consensus 0.60%
10:00 ISM Manufacturing New Orders Index [Jul]
10:00 ISM Manufacturing Employment [Jul]
10:00 ISM Manufacturing PMI [Jul]
10:00 ISM Manufacturing PMI [Jul]
1:00 Dallas FED PCE [Jun]
1:00 Domestic Truck Sales [Jul] – Consensus 8.15M
1:30 All Truck Sales [Jul]
Earnings Before Open
CLX: Clorox – EPS Est. $1.37, Rev Est. $1.52B
TSN: Tyson Foods – EPS Est. $0.93, Rev Est. $10.31B
BWP: Boardwalk Pipeline – EPS Est. $0.19, Rev Est. $285.63M
Earnings After Close
DENN: Denny’s – EPS Est. $0.12, Rev Est. $120.28M
TREE: LendingTree – EPS Est. $0.33, Rev Est. $51.97M
AIG: American Int’l Group – EPS Est. $1.21, Rev Est. $14.48B
CTRP: CTrip.com Int’l – EPS Est. $0.01, Rev Est. $406.79M