Economic Calendar & Watch List 8/25/2015

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Tuesday August 25, 2015

 

Economic Calendar & Watch List 8/25/2015

 

Morning Notes

US futures are pointing higher by roughly + 3.5% after yesterday’s sharp decline. In addition, the People’s Bank Of China cut its interest rate. Strong comments out of JP Morgan which noted that a correction is unlikely and now is the time to buy stocks. European stocks are trading higher and Asian stocks has a mixed close across the board.

 

Technicals

SPY_8_25

The SPY put in an extreme range in yesterday’s session and established new levels which are significantly far apart. New support will lie at $182.40 and resistance overhead lies at $197.48, followed by $203.90.

 

In Play

ESI: ITT Technical Institute – The state of California has abandoned its attempt to suspend ITT Technical Institute. Gapping up 22% with a 18.8M share float.

 

**Others On Watch**

ACOR

BBY

 

Economic Calendar

9:00 Housing Price Index M/M May Est. +0.4%

9:00 Case Shiller Index

9:45 Markit Services PMI

10:00 July New Home Sales Est +5.8% to 510k, June -6.8% to 482k

10:00 August Consumer Confidence Est. +2.5 to 93.4, Jul -8.9 to 90.9

10:00 August Richmond Fed Manufacturing Index Est. -3 to 10, Jul +7 to 13

10:00 US Congress releases budget & economic outlook

1:00 Treasury Auctions

 

Earnings Before Open

TOL: Toll Brothers – Est. $.50, Rev Est. $1.04B

BBY: Best Buy – Est. $.34, Rev Est. $8.3B

DSW: DSW Inc – Est. $.42, Rev Est. $635M

 

Earnings After Close

NONE

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