Wednesday August 19, 2015
Economic Calendar & Watch List 8/19/2015
Morning Notes
US futures are down slightly and European stocks are down roughly -0.6% on continued concerns on China’s economic state. Asian stocks closed mixed.
Technicals
The SPY traded in a tight range yesterday closing slightly lower at $209.98, though above the 50 Day moving average of $209.53. New upper range support lies at the low of yesterday’s range at $209.70, closely followed by the 50 Day moving average at $209.53. Resistance overhead lies at $210.68 followed by $210.58.
In Play
CRBP: Corbus Pharmaceuticals – a clinical stage drug development company targeting rare, chronic, and serious inflammatory and fibrotic diseases, announced today that the U.S. Food and Drug Administration (“FDA”) has designated as a Fast Track development program the investigation of Resunab. Gapping up 65% with a 18.3M float.
PTN: Palatin Technologies – FDA OKs Sprouts Female Sexual-Desire Drug. Gapping up 24% with a 36M share float.
**Others On Watch**
LOW
TGT
Economic Calendar
8:30 CPI Index – NSA [Jul] – Consensus 238.70
8:30 Core CPI (MoM) [Jul] – Consensus 0.20%
8:30 Core CPI (YoY) [Jul] – Consensus 1.80%
8:30 CPI (MoM) [Jul] – Consensus 0.20%
8:30 CPI (YoY) [Jul] – Consensus 0.20%
10:30 Gasoline Inventories
10:30 Crude Oil Inventories
10:30 EIA Weekly Distillates Stocks
2:40 FOMC MINUTES RELEASE
Earnings Before Open
TGT: Target – EPS Est. $1.11, Rev Est. $17.40B
HRL: Hormel Foods – EPS Est. $0.55, Rev Est. $2.26B
LOW: Lowe’s Corp. – EPS Est. $1.24, Rev Est. $17.33B
Earnings After Close
PLKI: Popeye’s – EPS Est. $0.44, Rev Est. $62.86M
LB: L Brands – EPS Est. $0.68, Rev Est. $2.80B
