Wednesday August 26, 2015
Economic Calendar & Watch List 8/26/2015
Morning Notes
US futures are higher again this morning by roughly +1.7% on new Merger and Acquisition news as Schlumberger (SLB) agreed to purchase Cameron for $14.8 Billion. Also leading futures higher is the positive comments out of Goldman Sachs on Google, upgrading the company to the “conviction buy” list. European stocks are trading lower following the China decline in markets after it gave back nearly 4% in gains.
Technicals
The SPY put in yet another extreme wide range day in yesterday’s session closing just off the low at $187.27. Support will lie at the low of yesterday’s range at $186.92, followed by the previous day at $182.40. Resistance overhead will lie at the high of yesterday’s range at $195.45.
In Play
**Others On Watch**
AMBA
GPRO
OSK
Economic Calendar
8:30 Jul durable goods orders expected -0.4% and +0.4%
10:00 New York Fed President William Dudley speaks
10:30 EIA Weekly Petroleum Status Report
11:30 Treasury auctions $13 billion of 2-year floating rate notes
1:00 Treasury auctions $35 billion of 5-year T-notes
Earnings Before Open
ANF: Abercrombie & Fitch – EPS Est. $(-.04) Rev Est. $811M
Earnings After Close
WSM: Williams – Sonoma, Inc – EPS Est. $.58, Rev Est. $1.1B
AVGO: Avago Technologies – EPS Est. $2.14, Rev Est. $1.74B
PVH: PVH Corp – EPS Est. $1.29, Rev Est. $1.82B
GES: Guess? Inc – EPS Est. $.15, Rev Est. $537.6M
